Impact of Digital Inclusive Finance on Agricultural Total Factor Productivity: A Case Study of Fujian Province, China

The transformation and upgrading of agriculture has become an urgent need for the country's economic development, and the improvement of total factor productivity in agriculture has become a key indicator of modern agricultural development. Fujian Province is located on the southeast coast of China, and despite its diverse geographic conditions, the rapid development of the agricultural economy has led to the formation of distinctive agricultural paths, but it still faces the challenge of rough operation. The purpose of this paper is to explore the impact mechanism of digital inclusive finance on agricultural total factor productivity in Fujian Province, using the 2012-2021 Peking University Digital Inclusive Finance Index and the statistics of prefecture-level cities in Fujian Province to measure and analysis regional differences, and to empirically test its impact effect. The study finds that (1) digital financial inclusion significantly enhances agricultural total factor productivity in Fujian Province, and the results are robust. (2) Agricultural capital deepening acts as a mediator to effectively enhance agricultural total factor productivity. (3) Digital inclusive finance positively affects agricultural technological progress and efficiency, and indirectly enhances overall productivity.