Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2023.2192777
Impact of rural capital outflow on sustainable economic growth: evidence from Shaanxi Province of China
Jian Li
Mingming Ni
Zhiyi Li
Sažetak
The capital constraint and underinvestment faced by rural residents
are the pivotal factors limiting economic growth. The rural
capital outflow further magnifies the income gap between urban
and rural residents, seriously undermining rural areas’ capital
accumulation and sustainable development. For this purpose, we
perform a theoretical and empirical investigation of the impact of
rural capital outflow on economic growth. The results reveal that
rural capital outflow occupies investment opportunities for rural
economic development that adversely affect economic growth.
Secondly, rural economic growth has an inertial effect and generates
path dependence on capital outflow. The calculation of rural
capital outflow in northern Shaanxi, Guanzhong, and southern
Shaanxi regions of China reveals that capital outflow in northern
Shaanxi is insignificant and shows signs of capital return, while
southern Shaanxi and Guanzhong emerge as key regions for capital
outflow.Policymakers must adhere to long-term initiatives to
reform and refine multi-level capital markets that support agricultural
development in rural areas and build a sound rural financial
market order for sustainable economic growth.
Ključne riječi
Rural finance; rural capital outflow; rural economy; economic growth; regional differences
Hrčak ID:
314869
URI
Datum izdavanja:
5.6.2023.
Posjeta: 41 *