Digital finance and agricultural total factor productivity-From the perspective of capital deepening and factor structure

This article uses the mediation effect model to analyze the internal mechanism of digital finance driving the transformation of agricultural production factor structure. The research results indicate that digital finance promotes the intensification of agricultural capital through "incremental supplementation" and "stock optimization", to enhance the effective supply of agricultural capital. Digital finance promotes the transformation of land flow, the organization of farmers, and the socialization of agricultural services, optimizing the input structure of agricultural production factors and improving the efficiency of agricultural capital. In major grain producing areas, digital finance has stronger driving effect on agricultural total factor productivity than other regions.