The impact of regional financial supply on high-quality rural development
It is the mission and task entrusted to finance in the new era to"drip irrigate"the fertile land for rural development.In view of this,this paper presents an initial attempt to investigate whether and how regional financial supply promotes high-quality rural development in China.We first explain the influence mechanism of financial supply on high-quality rural development at the theoretical level,and hold that finance can contribute to the high-quality development of rural areas through its multiple effects released by its functional exertion,such as industrial promotion,environmental improvement,social norms and improvement of people's livelihood.Based on this theoretical analysis,we combine panel data from 31 provincial-level regions in China during the period 2005-2020 to construct an evaluation index system of finance and the high-quality rural development.Then the driving effect,mechanism and heterogeneity of finance on high-quality rural development were tested and revealed by using panel fixed effect model and mediation effect model.The results indicate that the improvement of the regional financial supply is conducive to the high-quality rural development,and this conclusion still holds after a series of robustness tests conducted.However,this positive effect shows obvious spatial and temporal heterogeneity.For the eastern region and the period after 2014,the positive impacts of finance on the high-quality rural development are stronger.This finding was also confirmed by the Fisher Permutation Test.In addition,the analysis of action mechanism shows that for the total sample of all provinces and the five sub-samples,"promoting rural consumption upgrading and releasing the effect of improving people's livelihood"is the common channel of finance driving high-quality rural development.However,the industrial driving effect,environmental improvement effect and human capital effect brought by financial development only exist in some molecular samples.In general,this paper advances the understanding of the drivers of high-quality rural development and the effects,mechanisms and regional differences of financial empowerment for rural revitalization,and enriches the research perspectives of financial geography and rural geography.
financial supplyhigh-quality rural developmentmediating effect modelmechanism of actionspatio-temporal heterogeneityChina
万方数据
维普
