农业信贷担保政策实施对农业全要生产率的影响
The Impact of the Implementation of Agricultural Credit Guarantee Policy on Agricultural Total Factor Productivity
周鸿卫 1丁浩洋1
作者信息
摘要
农业信贷担保既是财政支农的创新模式,也是金融惠农的重要中介.本文将农业信贷担保政策实施视为准自然试验,基于2011-2021年中国1254个县的面板数据,采用倾向得分匹配法和多期双重差分法,评估了农业信贷担保政策实施对农业全要素生产率的影响.研究发现:第一,农业信贷担保政策实施显著提升了农业全要素生产率;第二,农业信贷担保政策实施通过信贷支持、产业引导和支持新型农业经营主体,促进农业全要素生产率提升;第三,数字信贷对农业信贷担保政策实施提升农业全要素生产率的作用具有遮掩效应,但遮掩效应随着数字技术的推广和数字足迹的积累逐渐减弱,并于2019-2021年转变为促进效应;第四,农业信贷担保政策实施对产粮大县、贫困县和金融基础设施比较完善的县的农业全要素生产率提升作用更明显.
Abstract
Agricultural credit guarantee is not only an innovative model of financial support to agriculture,but also an important financial intermediary.Based on the panel data of 1254 counties in China from 2011 to 2021,this paper regards the implementation of agricultural credit guarantee policy as a quasi-natural experimentand,uses propensity score matching and multi-period DID method to examine the impact of the implementation of agricultural credit guarantee policy on agricultural total factor productivity(TFP).The study finds that,first,the implementation of the policy has significantly improved agricultural TFP.Second,the mediation effect shows that the policy improves agricultural TFP by supporting credit,guiding industries,and supporting new agricultural business entities.Third,digital credit has a suppressing effect on the improvement of the policy on agricultural TFP,but the suppressing effect is weakening with the spread of digital technology and the accumulation of digital footprints,transforming to a promoting effect between 2019 and 2021.Furthermore,the heterogeneous analysis reveals more prominent effects of the policy on agricultural TFP in large grain-producing counties,poor counties,and counties with adequate financial infrastructure.
关键词
农业信贷担保政策/农业全要素生产率/数字信贷Key words
Agricultural Credit Guarantee Policy/Agricultural TFP/Digital Credit引用本文复制引用
基金项目
国家社会科学基金重大项目(21&ZD115)
国家社会科学基金一般项目(23BJL102)
出版年
2024
NETL
NSTL
万方数据