The impact of local government debt on rural green transformation

IF 6.9 2区经济学 Q1 BUSINESS, FINANCE Finance Research Letters Pub Date : 2025-07-01 Epub Date: 2025-04-21 DOI:10.1016/j.frl.2025.107458

Nan Jia , Hongli Zhang , Weigang Ma

引用次数: 0

Abstract

This study examines the impact of local government debt on rural green economy transition through panel data analysis. The results show that there is an inverted U-shaped non-linear relationship between local government debt and rural green economy transition, with debt facilitating the transition at low rural development levels but negatively affecting it at high development levels. The level of rural development is an important threshold variable that influences the mechanism of action of debt. Rural capital allocation plays a mediating role at low levels of development, but the mediating effect is not significant at high levels of development. It is suggested that local governments should reasonably control the scale of debt according to the stage of rural development, optimise the allocation of funds, improve the efficiency of investment, and formulate fiscal policies in a phased manner, so as to promote the sustainable development of rural green economy.

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地方政府债务对农村绿色转型的影响

本文通过面板数据分析，考察了地方政府债务对农村绿色经济转型的影响。结果表明：地方政府债务与农村绿色经济转型之间存在倒u型的非线性关系，债务对农村低发展水平的转型具有促进作用，对农村高发展水平的转型具有负向影响；农村发展水平是影响债务作用机制的重要阈值变量。农村资本配置在低发展水平下具有中介作用，但在高发展水平下中介作用不显著。建议地方政府根据农村发展阶段合理控制债务规模，优化资金配置，提高投资效率，分阶段制定财政政策，促进农村绿色经济的可持续发展。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

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