The Impact of the Rural Digital Economy on Ecological Product Value Conversion Efficiency from the Perspective of Production–Living–Ecological Functions

The rapid expansion of the rural digital economy (RDE) has introduced new opportunities for enhancing ecological product value conversion efficiency (EPVCE), yet the mechanisms underlying this relationship remain insufficiently understood. Based on provincial panel data from 31 Chinese provinces during 2010–2019, this study constructs an RDE index system and evaluates EPVCE using a super-efficiency slack-based measure (SBM) model. Two-way fixed-effects models, bootstrap mediation analysis, heterogeneity tests, and spatial Durbin models are employed to examine the impact of RDE on EPVCE and explore the underlying mechanisms. The findings reveal that (1) RDE is significantly and positively associated with EPVCE, and this finding remains robust to alternative model specifications and variable measures, controls for climatic factors, a one-period lag of RDE, and an instrumental-variable approach; (2) production, living, and ecological functions constitute key transmission channels, with the ecological function exhibiting a relatively larger indirect effect; (3) the positive relationship is more pronounced in eastern China and non-resource-based provinces, indicating substantial heterogeneity; and (4) spatial analysis reveals that the relationship is primarily characterized by local effects rather than spatial spillovers. From a rural multifunctionality perspective, this study extends research on the RDE–EPVCE nexus and provides empirical evidence for coordinating rural digital transformation with ecological value realization.