Empirical Study on Synergistic Development of Green Finance and Rural Industrial Revitalization Based on Coupled Coordination Model

Date: 2024-01-02    Source: 

Sun Peiyu, School of International Economics and International Relations

 

AbstractThe proposal of the rural revitalization strategy has officially raised the issue of ‘three rural areas’ to the national strategic level, of which the prosperity of industry is the focus of rural agricultural development. With the proposal of the development concept of ‘green water and green mountains are gold and silver mountains’, China has paid more and more attention to taking into account environmental benefits while developing the economy. Subsequently, the Central Document No.1 also emphasized the need to take the route of green agricultural development. Green finance invests in green projects and promotes sustainable development, which is in line with the practical needs of green leadership and green agriculture; The realization of rural industry revitalization can also create new demand for green finance and provide new development opportunities.

In this context, it is of great significance to evaluate the respective development levels of green finance and rural industry revitalization in China and explore the coordinated development of the two, which is of great significance for practicing the concept of green development and realizing the sustainable development of rural agriculture. Based on the panel data of 30 provinces and municipalities in China from 2010 to 2020, this paper constructs a comprehensive evaluation index system, and calculates the comprehensive evaluation index of green finance and rural industry revitalization respectively to evaluate the development level of the two. On this basis, this paper also uses the coupling coordination model to calculate the coupling co-ordination between green finance and rural industry revitalization in various regions in China, and analyzes the spatial correlation characteristics of the coupling coordination degree using the spatial autocorrelation model.

It is found that: (1) From 2010 to 2020, the level of green finance and rural industry revitalization in China generally showed an upward level, and showed a regional pattern of gradually weakening from east to west. (2) There is an uneven development of various subsystems within the two systems of green finance and rural industry revitalization. (3) The coupling between China's green finance and rural industry revitalization is in a highlevel resonance coupling state, and the coupling and coordination level of various regions is gradually improving over time, but it also presents a stepwise decline pattern of ‘high in the east and low in the west’; (4) The coupling and coordination degree of green finance III and rural industry revitalization in China has strong spatial positive correlation and spatial agglomeration characteristics. Based on the above conclusions, these are some countermeasures and suggestions: Firstly, diversify the development of green finance and make up for the shortcomings of the green financial system. Secondly, we should pay attention to the development of green insurance and improve the anti-risk ability of rural industrial entities; Thirdly, give full play to the role of the market, leverage more social capital, and achieve the sustainable development of green finance. Fourthly, improve rural infrastructure construction and promote the revitalization of rural industries in an all-round way. Finally, strengthen regional spatial governance and comprehensively improve the level of coupling and coordination between green finance and rural industry revitalization.

 

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