Abstract
The coordinated development of agricultural economic growth and non-point source (NPS) pollution is an important task in enhancing pollution prevention. Significantly, agricultural economic growth and NPS pollution are interrelated, and their mechanism will be affected by financial development. For this reason, the current study established a panel smooth transformation regression (PSTR) model to reveal the mechanical evolution under different financial development levels. It was found that the impact of agricultural economic growth on NPS pollution was significantly positive in the low level of financial development, which is manifested as an “intensification effect”. Fortunately, when the level of financial development reaches the medium and high thresholds, agricultural economic growth will inhibit agricultural NPS pollution. At the same time it was also found that the impact of agricultural economic growth on NPS pollution is manifested as an “inhibition effect” at the overall level, but presenting significant structural differences. Specifically, the impact on the eastern and central regions of China is manifested as an “inhibition effect”, whereas the impact in the western region of China is characterized as an “intensification effect”. Finally, the elasticity analysis showed that the influence of financial development on agricultural NPS pollution was significantly positive, and that its intensification effect is ubiquitous.
Highlights
China is a rapidly developing country that is transitioning from a socialist system to one where an increasing proportion of its goods and services, including food, are being allocated by prices and other market forces [1]
Thereinto, the threshold effect test at the overall level adopted the overall emissions of agricultural non-point source (NPS) pollution, and the tests at the structural level were mainly conducted from the perspectives of different pollution sources such as chemical fertilizers, mulch film, diesel fuel, and pesticides
It is impossible to ignore various preconditions when exploring the mechanism of the agricultural economy and NPS pollution, especially the level of financial development which is regarded as the “blood” of the economy
Summary
China is a rapidly developing country that is transitioning from a socialist system to one where an increasing proportion of its goods and services, including food, are being allocated by prices and other market forces [1]. From the perspective of major economic indicators, the added value of agriculture increased from 139.7 billion yuan in 1978 to 12.397 trillion yuan in 2019, with an average annual growth rate of 11.56% (the annual growth rate is calculated based on the given data from the China Statistics Bureau, as are other data referenced ). In 1978, the per capita disposable income of rural residents was 134 yuan, and this indicator increased to 16,021 yuan in 2019, with an average annual increase rate of 12.38%. There is general recognition that under Deng Xiaoping’s rule, the regulation of the Chinese government was
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