The impact of data factor marketization on agricultural new quality productivity

The market-oriented allocation of data factors has become increasingly important for transforming agricultural production systems and fostering new growth momentum in agriculture. However, whether and how data factor marketization contributes to the development of Agricultural new quality productivity (ANQP) remains insufficiently understood. Using prefecture-level panel data from Chinese cities during 2005–2023, this study exploits the establishment of data trading platforms as a quasi-natural experiment and employs a staggered difference-in-differences approach to identify the causal effect of data factor marketization on ANQP. To measure ANQP, we construct an index based on large language model (GLM) annotation and BERT classification methods. The results show that data factor marketization significantly enhances the development of ANQP. Heterogeneity analysis indicates that this effect is stronger in regions with more advanced digital infrastructure, better business environments, more developed new agricultural business entities, and higher levels of digital inclusive finance. The mechanism analysis reveals that data factor marketization facilitates agricultural new quality productivity through data value creation, innovation incentives, human capital accumulation, and labor productivity enhancement. Further analysis demonstrates that ANQP on the urban–rural income gap diminishes at the margin, increases farmers’ income at the margin, and strengthens agricultural economic resilience. These findings provide empirical evidence and policy implications for advancing data factor market reforms, cultivating ANQP based on local conditions, and promoting high-quality and sustainable agricultural development.