Empirical study on factors influencing farmers' income in Zhaoqing City

A significant portion of farmers' income comes from the primary industry. Based on time series data from 1985 to 2020, this study empirically examines the relationship between farmers' real income in Zhaoqing City and the actual output value of agriculture, forestry, animal husbandry, fishery, and service industry using methods such as unit root test, cointegration analysis, elimination of multicollinearity, and elimination of serial correlation. The results show that:

·         Animal husbandry and fishery have no significant impact on farmers' real income in Zhaoqing City;

·         Agriculture, forestry, and the agricultural, forestry, animal husbandry, and fishery service industry have a significant impact on farmers' real income in Zhaoqing City. Specifically, for every 100 million yuan increase in the output value of agriculture, farmers' per capita disposable income increases by an average of 0.0717%; for every 100 million yuan increase in the output value of forestry, farmers' per capita disposable income increases by an average of 0.1056%; for every 100 million yuan increase in the output value of the agricultural, forestry, animal husbandry, and fishery service industry, farmers' per capita disposable income increases by an average of 0.0858%;

·         The impact has a significant positive effect with a lag of 3 years. Based on the research findings, some policy recommendations are provided.