Sci-tech Finance Improves Agricultural Production Efficiency:Empirical Evidence from the Pilot Policies of Sci-tech Finance
China's agricultural development not only has the weakness of insufficient technological investment,but also faces the constraints of inadequate financial support.In this context,promoting the integration of technology and finance in agricultural production activities is vital for China's agricultural modernization.Taking the"Promoting the Combination of Science and Technology and Finance Pilot"policy as a quasi-natural experiment,this paper investigates the policy effect and mechanism of sci-tech finance to empower agricultural production efficiency.The results show that the implementation of sci-tech finance policy significantly improves agricultural production efficiency in pilot areas compared with non-pilot areas,and the treatment effect persists and amplifies for a long period of time after the implementation of the policy.Heterogeneity analysis shows that the policy has a more pronounced effect in pilot areas characterized by weaker technological innovation capabilities,lower levels of financial deepening,and larger agricultural production scales.Furthermore,influenced by the intensity of policy implementation and geographical location,the pilot policy demonstrates a stronger"sending help in times of need"effect on non-central cities compared with the"Icing on the cake"effect on central cities.Mechanism analysis shows that the implementation of sci-tech finance policy has a positive impact on the"agricuture,rural areas,and farmers"from three aspects:accelerating the process of agricultural mechanization,improving the human capital of farmers,and promoting the development of modem rural industries.It builds a long-term mechanism for the policy to take effect at multiple points and continues to exert force,and ultimately promotes the improvement of agricultural production efficiency..
Sci-tech FinanceAgricultural Production Efficiency,Staggered Difference-in-Differences ModelAgricultural Modemization
NETL
NSTL
万方数据
