Effect and mechanism of the "Three Rights Separation" of agricultural land in empowering the neo-endogenous agricultural and rural development

Neo-endogenous development is an important way to realise the modernization of agriculture and rural areas, and the reform of the land property rights system plays an important role in activating the internal and external development momentum of agriculture and rural areas. Based on the multi-period double-difference method, the study analyses and examines the impact of "Three Rights Separation" of agricultural land on the neo-endogenous development of agriculture and rural areas and its mechanism of action using balanced panel data of 206 prefecture-level cities in China from 2008 to 2022. The study finds that: (1) "Three Rights Separation" of agricultural land significantly improves the level of neo-endogenous development in agriculture and rural areas. (2) Promoting land scale and attracting capital investment are two important channels through which we can exert the policy effect of "Three Rights Separation" of agricultural land. (3) "Three Rights Separation" of agricultural land has significantly raised the level of neo-endogenous development in agriculture and rural areas. (4) "Three Rights Separation" of agricultural land will enhance the level of neo-endogenous development of agriculture and rural areas to a greater extent in areas with a lower degree of deepening of agricultural capital and better scientific and educational environments, and the policy effect will not be significantly different due to the loss of rural labour and the differences in natural resource endowment. This paper provides more theoretical support and empirical evidence for the use of land property rights reform to accelerate agricultural and rural development and thus achieve agricultural and rural modernization.