Capital formation and agricultural growth in China

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dc.contributor.authorMa, Hengyun
dc.contributor.authorHuang, Jikun
dc.contributor.authorOxley, Les
dc.date.accessioned2013-04-15T04:24:25Z
dc.date.available2013-04-15T04:24:25Z
dc.date.issued2013
dc.description.abstractThe paper considers the role and determinants of capital formation in Chinese agriculture and, in particular, the effects of capital formation on agricultural total factor productivity (TFP) growth. The results show that capital investment in agriculture by both government and farmers has risen significantly in the past two and a half decades, particularly in recent years. As China remains in the early stages of agricultural policy transition, its political economy would suggest that there will likely be more public investment in, and more subsidies to, agriculture in the coming years. Increased public investment in agriculture appears to have also induced increased farmers' capital formation in agriculture. Credit policy, the overall growth of farmer's income, rural wages, and comparative advantage of commodities are important factors that may facilitate farmers' investment in agriculture. The results also show that the successful growth of China's agriculture has been associated with its high TFP growth. Both public and private agricultural capital formations have played an important role in raising China's agricultural productivity. The TFP decomposition analyses show that technological change is a primary driver of the TFP growth in China's agriculture.en_NZ
dc.identifier.citationMa, H., Huang, J., & Oxley, L. (2013). Capital formation and agricultural growth in China. Asian Economic papers, 12(1), 166-10en_NZ
dc.identifier.doi10.1162/asep_a_00200en_NZ
dc.identifier.issn1535-3516
dc.identifier.urihttps://hdl.handle.net/10289/7462
dc.language.isoen
dc.publisherMassachusetts Institute of Technology Press [MIT Press]en_NZ
dc.relation.isPartOfAsian Economic Papersen_NZ
dc.subjectLewis-Modelen_NZ
dc.subjecttechnological-changeen_NZ
dc.subjectproductivity growthen_NZ
dc.subjectrural chinaen_NZ
dc.subjectreformen_NZ
dc.subjecteconomyen_NZ
dc.titleCapital formation and agricultural growth in Chinaen_NZ
dc.typeJournal Articleen_NZ
pubs.begin-page166en_NZ
pubs.elements-id39058
pubs.end-page190en_NZ
pubs.issue1en_NZ
pubs.volume12en_NZ
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