Research Based On The Impact Of Rural Financial Development On Agricultural Revitalization In Shandong Province

From 2004 to 2023,Document No.1 of the Central Committee focused on the "three rural issues" for 20 consecutive years,highlighting the importance of the "three rural areas" work in the process of China’s modernization and the urgency of solving the "three rural issues".Among them,agricultural development is the key,and rural finance can provide financial support for agricultural production activities and help improve the level of agricultural revitalization.However,in the process of agricultural development in Shandong Province,there are still problems such as farmers’ weak credit awareness,high threshold of financial services,information asymmetry in financial activities,and insufficient depth and breadth of financial services,which hinder the improvement of agricultural revitalization.This requires in-depth research on how rural finance in Shandong Province affects the level of agricultural revitalization,how it has an impact,and puts forward countermeasures and suggestions for outstanding problems,so that the development of rural finance can better contribute to agricultural revitalization.By summarizing the connotation of rural finance and agricultural revitalization,combined with the current development of rural finance and agricultural revitalization in Shandong Province,this paper uses scientific methods to measure the level of agricultural revitalization and the comprehensive index of rural financial development,faces up to the problems in the process of rural finance supporting agricultural revitalization,and then puts forward targeted countermeasures and suggestions to provide theoretical guidance for rural finance to support agricultural revitalization in Shandong Province.This paper constructs the agricultural revitalization index system and the comprehensive index of rural financial development,and uses the index data of16 cities in Shandong Province from 2011 to 2021,and uses factor analysis to calculate the 10 second-level indicators of the three first-level indicators of agricultural product supply capacity,agricultural industrial structure and agricultural scientific and technological innovation as the agricultural revitalization index.The entropy value method was used to calculate the scale of rural financial development,the efficiency of rural financial development and the depth of rural financial development as the comprehensive index of rural financial development.The panel data were empirically analyzed,tested for robustness and heterogeneity by using benchmark regression,fixed-effect model,and 2SLS estimation.It is found that rural finance in Shandong Province has a significant role in promoting agricultural revitalization,but there are obvious differences between regions,with the north part of Shan Dong being the most significant,the middle and the south being the second,the east being the smallest,and rural finance in coastal areas promoting agricultural revitalization more than inland.At the same time,it is also found that there are still problems in the process of rural financial support for agricultural revitalization,such as single financial products,low proportion of loans in agricultural funds,poor financial environment and low service level,so combined with the current situation analysis and empirical results,countermeasures and suggestions for innovative financial products,increased rural credit supply,construction of a good rural financial environment,and improvement of service awareness are proposed.