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Interaction between rural financial development and rural economic growth

  
Sep 22, 2025

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Figure 1.

The trend of the total
The trend of the total

Figure 2.

Changes in agricultural loans and household savings
Changes in agricultural loans and household savings

Figure 3.

Financial development scale and farmers disposable income
Financial development scale and farmers disposable income

Figure 4.

Financial development efficiency and farmers disposable income
Financial development efficiency and farmers disposable income

Figure 5.

Financial development structure and farmers disposable income
Financial development structure and farmers disposable income

Granger causality test results

Original hypothesis Hysteresis P value Results
The LNRS is not the granger reason for CGDP 4 0.0128 Reject
CGDP is not the granger reason of the LNRS 4 0.0926 Acceptance
Natural log re is not CGDP’s granger reason 2 0.0200 Reject
CGDP is not the natural LNRE granger reason 2 0.3254 Acceptance
The LNRC is not the granger reason for CGDP 2 0.0053 Reject
CGDP is not the granger reason for LNRC 2 0.6114 Acceptance

Income level and annual growth rate

Year Farmer per capita net income Gross net income The per capita of the farmers is pure Annual growth rate
1991 133.62 1056.40 ---- ----
1992 160.23 1267.2 0.199146834 0.199545627
1993 192.42 1524.46 0.200898708 0.203014520
1994 223.46 1789.45 0.161313792 0.173825486
1995 270.14 2175.63 0.154327385 0.215809327
1996 311.83 2502.10 0.139948048 0.150057684
1997 355.47 2855.76 0.121444847 0.141345270
1998 398.64 3212.10 0.065748545 0.124779393
1999 424.85 3440.46 0.089043191 0.071093677
2000 462.68 3776.78 0.180038039 0.097754370
2001 545.98 4485.5 0.107421517 0.187651915
2002 604.63 5002.46 0.136976332 0.115251366
2003 687.45 5775.52 0.036628118 0.154535968
2004 712.63 5996.84 0.116961115 0.038320359
2005 795.98 6665.8 0.159300484 0.111552084
2006 922.78 7875.50 0.326415830 0.181478592
2007 1223.99 10462.52 0.294830840 0.328489620
2008 1584.86 13572.3 0.213444720 0.297230495
2009 1923.14 16386.95 0.091069812 0.207381947
2010 2098.28 17623.10 0.044779533 0.075435026
2011 2192.24 17982.62 0.010135751 0.020400497
2012 2214.46 18134.20 0.018117283 0.008429250
2013 2254.58 18223.15 0.049197633 0.004905096
2014 2365.5 18836.80 0.046979496 0.033674200
2015 2476.63 19370.46 0.059302358 0.028330714
2016 2623.5 20153.94 0.121631408 0.040447155
2017 2942.6 22232.12 0.106810303 0.103115321
2018 3256.9 24278.36 0.112346095 0.092039805
2019 3622.8 26457.32 0.143441536 0.089749060
2020 4142.46 2613.95 0.149495710 -0.901201255
2021 4761.74 33522.30 0.149495710 11.824384552
2022 5154.22 35526.95 0.082423651 0.059800491
2023 5920.02 39736.35 0.148663811 0.118484700
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