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Will Digital Financial Inclusion Increase Chinese Farmers’ Willingness to Adopt Agricultural Technology?

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  • Zhanqiang Zhou

    (School of Economics, Central University of Finance and Economics, Beijing 102206, China)

  • Yuehua Zhang

    (School of Economics, Central University of Finance and Economics, Beijing 102206, China)

  • Zhongbao Yan

    (School of Economics, Central University of Finance and Economics, Beijing 102206, China)

Abstract

Studies consider the impact of financial support on agricultural technology adoption, but do not consider the role of the rapidly evolving Digital Financial Inclusion ( DFI ). This study analyzes the impact of DFI on farmers’ willingness to adopt agricultural technology ( WTAAT ) using data from the China Labor-force Dynamics Survey and the Digital Financial Inclusion Index of Peking University, China. The results show that DFI significantly increases farmers’ WTAAT , consistent with the results of robustness tests. Moreover, the analysis of moderating effects shows that the contribution of DFI to WTAAT increases with the level of financial market development. Finally, WTAAT is affected by DFI development among farmers who receive government subsidies, participate in production technology training, and have no local non-agricultural economy. Therefore, we propose policy recommendations for developing DFI in rural areas, improving the financial market environment, and increasing subsidies and technical training. Our study provides some empirical evidence for exploring the field of agricultural technology adoption from the perspective of DFI and also provides new ideas for combining the digital transformation of finance with sustainable agricultural development, enriching the development of research in this field, which may also provide policy insights for the development of agricultural modernization in China and other countries.

Suggested Citation

  • Zhanqiang Zhou & Yuehua Zhang & Zhongbao Yan, 2022. "Will Digital Financial Inclusion Increase Chinese Farmers’ Willingness to Adopt Agricultural Technology?," Agriculture, MDPI, vol. 12(10), pages 1-21, September.
    • Handle: RePEc:gam:jagris:v:12:y:2022:i:10:p:1514-:d:920665
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    Cited by:

    1. Jin, Laiqun & Dai, Jiaying & Jiang, Weijie & Cao, Kairui, 2023. "Digital finance and misallocation of resources among firms: Evidence from China," The North American Journal of Economics and Finance, Elsevier, vol. 66(C).
    2. Huiquan Li & Qingning Lin & Yan Wang & Shiping Mao, 2023. "Can Digital Finance Improve China’s Agricultural Green Total Factor Productivity?," Agriculture, MDPI, vol. 13(7), pages 1-19, July.
    3. Hua Zhang & Ying Li & Hanxiaoxue Sun & Xiaohui Wang, 2023. "How Can Digital Financial Inclusion Promote High-Quality Agricultural Development? The Multiple-Mediation Model Research," IJERPH, MDPI, vol. 20(4), pages 1-19, February.
    4. Luwen Cui & Weiwei Wang, 2023. "Factors Affecting the Adoption of Digital Technology by Farmers in China: A Systematic Literature Review," Sustainability, MDPI, vol. 15(20), pages 1-14, October.
    5. Min Zhou & Hua Zhang & Zixuan Zhang & Hanxiaoxue Sun, 2023. "Digital Financial Inclusion, Cultivated Land Transfer and Cultivated Land Green Utilization Efficiency: An Empirical Study from China," Sustainability, MDPI, vol. 15(2), pages 1-19, January.
    6. Quan Xiao & Yu Wang & Haojie Liao & Gang Han & Yunjie Liu, 2023. "The Impact of Digital Inclusive Finance on Agricultural Green Total Factor Productivity: A Study Based on China’s Provinces," Sustainability, MDPI, vol. 15(2), pages 1-19, January.
    7. Yan Liu & Ya Deng & Binyao Peng, 2023. "The Impact of Digital Financial Inclusion on Green and Low-Carbon Agricultural Development," Agriculture, MDPI, vol. 13(9), pages 1-21, September.
    8. Kun Song & Yu Tang & Dungang Zang & Hua Guo & Wenting Kong, 2022. "Does Digital Finance Increase Relatively Large-Scale Farmers’ Agricultural Income through the Allocation of Production Factors? Evidence from China," Agriculture, MDPI, vol. 12(11), pages 1-15, November.

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