Dual-Wheel Drive and Agricultural Green Development: The Co-Evolution and Impact of Digital Inclusive Finance and Green Finance

Xuan Wang, Yanhua Li () and Tingyu Zhang
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Xuan Wang: School of Economics and Management, North University of China, Taiyuan 030051, China
Yanhua Li: School of Economics and Management, North University of China, Taiyuan 030051, China
Tingyu Zhang: School of Economics and Management, North University of China, Taiyuan 030051, China

Sustainability, 2025, vol. 17, issue 20, 1-22

Abstract: Agricultural green development cannot be achieved without effective financial support. Based on panel data from 30 provinces in China from 2014 to 2023, this paper uses a coupling coordination model to measure and analyse the degree of coordination between digital inclusive finance and green finance; this further constructs a comprehensive evaluation system for agricultural green development, and on this basis uses a fixed-effect model and a threshold regression model to systematically examine the impact of the coordination between the two on agricultural green development. The findings are as follows: first, the coordination between digital inclusive finance and green finance shows an upward trend over time, shifting spatially from a high trend in the east to a low trend in the west to regional convergence; second, the coordination between the two has a substantial and favourable impact on green agricultural development, which is a conclusion that persists after robustness tests; third, the effect is heterogeneous, with more pronounced promotion effects in non-grain-producing regions, regions with high agricultural technology levels, and low levels of financial exclusion; fourth, the effect exhibits nonlinear characteristics, with coordination and agricultural industrial agglomeration each forming a single-threshold effect. This research lays down a foundational framework for financial coordination in supporting agricultural green development. It suggests promoting a dual-wheel coordination mechanism to effectively empower agricultural green development by strengthening technological empowerment, regional linkage, and designing differentiated policies.

Keywords: digital inclusive finance; green finance; co-evolution; agricultural green development (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2025
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