New quality productivity and the value realization of agricultural ecological product: Theoretical logic and experimental logic

Promoting the value realization of agricultural ecological product constitutes an effective pathway for sustainable economic growth in rural areas. It serves as a crucial initiative to accelerate the comprehensive green transformation of agricultural development. The advancement of new quality productivity provides strong momentum for this value realization process. Based on the theoretical analysis of the new quality productivity and the value realization of agricultural ecological product and using panel data of 30 provinces (autonomous regions and municipalities, excluding Hong Kong, Macao, Taiwan, and Xizang of China) in China from 2012 to 2022, this study used advanced econometric methods such as the two-way fixed effects, quantile regression, and spatial error models to systematically analyze the impact mechanism of the new quality productivity on the value realization efficiency of agricultural ecological product. Several findings are made based on the results. 1) In most regions, the level of new quality productivity demonstrated a consistent upward trajectory, while the value realization efficiency of agricultural ecological product exhibited a fluctuating ascending trend. However, the new quality productivity level in most regions were still in its primary stage, indicating significant potential for further growth and the need for targeted policies. Meanwhile, the value realization efficiency of agricultural ecological product faced issues of uneven regional development. In some areas, agricultural ecological resources were not being utilized effectively because of insufficient infrastructure, technological gaps, or policy constraints. These regional differences highlighted the necessity for specific strategies to address the specific challenges in underperforming regions. 2) New quality productivity could provide new momentum for the ecological agriculture industry, and significantly enhanced value realization efficiency of agricultural ecological product. The impact of new quality productivity on the value realization efficiency of agricultural ecological product initially decreased, but then increased as the value realization efficiency of the agricultural ecological product improved, suggesting a nonlinear relationship that evolved with development. This relationship underlined the importance of reaching an efficiency threshold to fully unlock the benefits of new quality productivity. 3) The competitiveness of the market of agricultural ecological assets and products led to a negative spatial spillover effect on their value realization efficiency, as regions with higher efficiency might put political competitive pressure on neighboring areas, creating a competitive rather than collaborative relationship. Nevertheless, the influence of new quality productivity on the value realization efficiency of agricultural ecological product could generate positive spatial spillovers through mechanisms such as the agricultural division of labor and social services. Based on these findings, it is essential to fully leverage regional ecological asset advantages and establish the corresponding industrial chains and supply chains. Simultaneously, scientific and technological innovation should serve as a driving force to achieve a qualitative transformation in agricultural productivity, thereby promote the coordinated development of agricultural new quality productivity and ecological industries. Furthermore, it is crucial to effectively harmonize the relationship between new quality productivity and traditional productivity.