Research on the Impact of Green Finance Policies on the Low-carbon Transformation of Agriculture:Analysis based on Data from National Fixed Point Survey
Low-carbon and food security are essential directions for modern agriculture.In the context of the dual goals of"ensuring supply"and"reducing carbon emissions"in agriculture,it is crucial to explore agricultural low-carbon transition options that harmonize the development of"supply preservation"and"carbon reduction"in agriculture,the enhancement of total factor productivity has become the key to the pursuit of a balance between the coordinated devel-opment of the two.As green finance has increasingly become an important source of financing for the low-carbon trans-formation in production,this paper uses the Difference-in-Differences method to examine the impact of green finance pi-lot policies on agricultural carbon total factor productivity and its driving factors based on microdata from China Fixed Point Survey for the period 2011-2020,and explores its heterogeneity and mechanism.The results show that,firstly,after the implementation of the policy,the average increase in agricultural carbon total factor productivity of farmers in the pilot area reached 15％,which promotes the agricultural low-carbon transformation.Secondly,the advancement of the technological frontier is the main driving force for the green finance pilot policy to promote the agricultural carbon total factor productivity,such as influencing the adoption of new technology behaviors of organic fertilizer and formula-ted fertilizer application by farmers in the current period,so as to realize the low-carbon transformation of household agriculture.Thirdly,part-time farmers,low-income farmers and non-scale operation farmers are more likely to be af-fected by the green finance pilot policy and realize the significant increase in agricultural carbon total factor productivi-ty,thus promoting the agricultural low-carbon transformation.Finally,targeted countermeasures are put forward based on the empirical results.
green financeagricultural productionlow carbon transformationagricultural carbon total factor productivi-tyDifference-in-Differences
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