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Improving agricultural green total factor productivity (AGTFP) is the key to achieving sustainable agricultural development and empowering agricultural modernization. Based on the panel data of 30 provincial levels in China from 2011 to 2021, AGTFP is measured using the non-expected MinDS super-efficiency—MetaFrontier Malmquist model, and the impact of environmental regulation (ER) and digital finance on AGTFP is analyzed using the spatial Durbin model (SDM). The results show the following: (1) ER can increase local AGTFP and has a positive spatial spillover effect. Command-based ER has the highest impact on AGTFP, followed by market-incentive and public-voluntary ER. (2) Digital finance has a direct promotional effect on local AGTFP, while it has an inhibitory effect on AGTFP in neighboring regions due to the siphon effect. (3) Digital finance is an important regulatory variable affecting AGTFP concerning command-based, market-incentive and public-voluntary ER. Digital finance plays a significantly moderating role in the effectiveness of the three ERs on AGTFP, with the market-incentive ER being the highest in eastern China. Nonetheless, digital finance has a significantly moderating effect on the effectiveness of command-based and public-voluntary ER on AGTFP, with command-based ER being higher in central China. Meanwhile, digital finance only plays a significantly moderating role in the effectiveness of command-based environment regulation on AGTFP in western China. This study provides valuable reference for policymakers concerning agriculture green production in varied regions.
Li et al. (Tue,) studied this question.