RESEARCH ON THE IMPACT OF INDUSTRIAL AND COMMERCIAL CAPITAL GOING TO THE COUNTRYSIDE ON THE DEVELOPMENT OF LOCAL AGRICULTURAL INDUSTRY——PERSPECTIVE FROM GOVERNMENT-ENTERPRISE RELATIONSHIP
Under the critical period of accelerating the construction of a strong agricultural country,it is of great significance to investigate the influencing factors of industrial and commercial capital investment in the countryside to drive the development of the agricultural industry,so as to promote the high quality of the agricultural industry.Using the data of industrial and commercial enterprises' investment in rural areas in Jiangsu province,this paper employed the ordered choice model(Oprobit)to empirically examine the influencing factors of industrial and commercial capital going to rural areas to promote the development of local agricultural industry.The results were showed as follows.(1)A good government-enterprise relationship significantly promoted industrial and commercial capital going to rural areas to promote the development of local agricultural industry.And the test results were still robust when alternative measures of explanatory variables and key explanatory variables,or instrumental variable methods to alleviate the endogeneity problem were used.(2)The heterogeneity analysis showed that the government-enterprise relationship had a greater impact on enterprises in areas with complete infrastructure and those with project leaders of non-local household registration.The positive effect of the government-enterprise relationship on the industrial and commercial capital going to rural areas to promote the development of local agricultural industry weakened for those in a better policy environment.(3)Further analysis showed that industry association positively moderated the effect of the government-enterprise relationship on industrial and commercial capital investment in the countryside to drive the development of the local agricultural industry.Therefore,it is recommended to promote the formation of communities of interest between industrial and commercial capital and village collectives,make full use of the driving role of agricultural-related enterprises,and improve the infrastructure in villages to enhance the effectiveness of industrial and commercial capital going to the countryside to promote the development of the local agricultural industry.
industrial and commercial capital to the countrysideagricultural industry developmentgovernment-enterprise relationshipindustry associationordered choice model
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