Abstract: This paper makes an empirical analysis on the influential mechanism of Chinese rural financial development on agricultural economic growth. The results show that there is a complex non-linear time-varying character of the influential mechanism of rural financial development on agricultural economic growth. During the primary stage of rural financial development, improving rural financial related rate may restrain agricultural economic growth significantly, but enhancing capital efficiency will make an adverse effect. However, after the rural financial related rate has exceeded its threshold level, improving rural financial related rate can promote agricultural economic growth prominently, which indicates that with the development of inclusive finance, the influential mechanism between them has changed obviously. Therefore, the government and fiscal sector should guarantee the accuracy of their policies, when choosing different policies for supporting agriculture make exact judgments on the periodical character of rural financial development in different regions, adopt different supporting strategies, and then build a more inclusive rural financial system in order to find a new source of macro-economic growth.

Key Words: Rural Financial Development  Agricultural Economic Growth  PLSTR Model Rural

Financial Related Rate