A Study On The Impact Of Digital Finance On The Resilience Of China’s Agricultural Economy

After the outbreak of the New Crown epidemic,"economic resilience" has once again become the focus of research by many outstanding scholars.Agriculture is a weak industry,and it is also related to the basic security of national food,so it is of certain practical significance to study the economic resilience of agriculture.Compared with traditional finance,digital finance has more inclusive characteristics and can extend financial services to rural residents who were previously excluded from financial services,alleviate agricultural credit constraints,promote the scale and specialization of agricultural production,and promote the development of agricultural economy.Therefore,this paper attempts to investigate the relationship between digital finance and agricultural economic resilience,and explore the inner mechanism of financial technology-enabled rural revitalization.This study uses the Peking University Digital Inclusive Finance Index to measure the level of digital finance development,and uses the entropy method to calculate the agricultural economic toughness score by constructing a comprehensive evaluation index system.31 provincial administrative regions in China from 2011 to2020 are selected as research objects,and a two-way fixed effects model is used to conduct an empirical regression on the relationship between digital finance and agricultural economic toughness.The mechanism of the effect of digital finance on agricultural economic resilience is further discussed,making trace contributions to further explore the mechanism of the effect of digital finance on improving agricultural economic resilience in the future.The main findings of this paper are as follows:(1)The development of digital finance can significantly improve agricultural economic resilience,and this conclusion still holds after robustness tests;(2)Digital finance can improve agricultural economic resilience by alleviating financing constraints and enhancing science and technology innovation;(3)The enhancement effect of digital finance on agricultural economic resilience is more significant at high marketization levels;(4)The effect of digital finance on the resilience of the agricultural economy is more significant in non-food producing regions.