Mechanisms of Digital Financial Inclusion on New Quality Productivity in Agriculture
DOI:
https://doi.org/10.54097/ydva4c44Keywords:
Digital financial inclusion, new quality productivity in agriculture, traditional financial development, regional innovationAbstract
Digital financial inclusion is an important tool to promote new quality productivity in agriculture and a strong agricultural country. To investigate how digital inclusive finance empowers new quality productivity in agriculture. First, on the basis of theoretical analysis, the entropy value method is applied to measure the indicators of new agricultural productivity in 31 Chinese provinces excluding Hong Kong, Macao, and Taiwan from 2012 to 2023; Second, the fixed effect model, the mediation effect model and the threshold effect model are applied to study the paths and mechanisms of digital inclusive finance empowering agricultural new quality productivity. The study finds that digital inclusive finance significantly promotes the development of new quality productivity in agriculture. Heterogeneity analysis shows that digital financial inclusion has a facilitating effect on new agricultural productivity in the eastern, western, and northeastern regions, while it has a dampening effect in the central region. The mechanism analysis shows that digital inclusive finance empowers the development of agricultural new quality productivity by promoting the level of traditional financial development and the development of regional innovation capacity. The results of the threshold test indicate that there is a double threshold for digital financial inclusion and that it shows a marginal incremental boost to new quality productivity in agriculture. Accordingly, It is advisable to improve the construction of digital infrastructure and cultivate professionals; To promote the balanced development of digital inclusive finance in each region according to local conditions; To give full play to the complementary advantages of digital inclusive finance and traditional finance; And to strengthen regional technological innovation to release the potential of digital inclusive finance.
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