An Empirical Research of Effects of Rural Financial Market Openness on Agricultural Economic Growth and its Decomposition ——Based on Spatial Durbin Panel Model
An Empirical Research of Effects of Rural Financial Market Openness on Agricultural Economic Growth and its Decomposition ——Based on Spatial Durbin Panel Model
WU Xiao-ming1,2 , LUO Jian-chao1,3
1 .College of Economics and Management, Northwest A&F University, Yangling 712100, China; 2. School of Management, Xi’an University of Science &Technology, Xi’an 710054, China; 3. Institute for Rural Finance, Northwest A&F University, Yangling 712100, China
Abstract On the basis of theoretical analysis of mechanism of rural financial openness on agricultural economic growth, this paper constructs a spatial Durbin panel model on effects of rural financial openness to agricultural economic growth, then divides into direct effect and indirect effect. The empirical analysis draws the following conclusions:rural financial openness has positive significant effect while the indirect effect is less than direct one. Agricultural capital and agricultural trade have positive significant effects , while effects of agricultural labor and technological innovation are negative. Finally, this paper advises to accelerate rural financial market opening, to improve the rural labor quality, mechanism of technology innovation and agricultural product circulation, and to promote efficient flow of financial resources in different areas.
WU Xiao-Meng,LUO Jian-Chao. An Empirical Research of Effects of Rural Financial Market Openness on Agricultural Economic Growth and its Decomposition ——Based on Spatial Durbin Panel Model. Economic Survey, 2016, 33(5): 030.
2016, Vol. 33 
