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Author: Fengxia Dong Publisher: ISBN: Category : Agricultural productivity Languages : en Pages : 21
Book Description
Agricultural production is strongly conditioned by the fact that inputs are transformed into outputs with considerable time lags, causing the rural household to balance its budget during the season when there are high expenditures for input purchases and consumption and few revenues. With limited access to credit, the budget balance within the year can become a constraint to agricultural production. As is the case in many developing countries, Chinese rural households have been suffering from a lack of access to capital. While China is one of the biggest countries in terms of rural areas and agricultural production, few studies have focused on the impact of credit on agriculture in China. Using survey data, this study aims to examine how credit constraints currently affect agricultural productivity and rural household income in China. The study findings suggest that under credit constraints, production inputs, along with farmers' capabilities and education, cannot be fully employed. By removing credit constraints, agricultural productivity and rural household income can be improved.
Author: Hong Fu Publisher: Springer ISBN: 3319768018 Category : Business & Economics Languages : en Pages : 419
Book Description
In the modern era, China’s rural credit landscape is transforming at a dizzying rate, but, in terms of financial development, these changes represent a second attempt in the past 100 years to reform China’s credit institutions and provide credit access to farmers. The first period was during the Republican era, between 1912 and 1949, which saw the first attempts at formalizing rural credit with the Industrial and Agricultural Banks. This book uses primary data and papers to present a full picture of the difficult conditions China faced during the Republican era in order to explain the myriad reforms to the country's rural credit system. Fu and Turvey build a narrative around these developments based on the foundation of thousands of years of dynastic rule in order to explore the specific impacts of drought, floods, famine, communist insurgencies, Japanese expansionism, and more on credit access, supply and demand. They consider powerful personalities—such as J.B. Taylor, John Lossing Buck, Paul Hsu and Timothy Richards—and influential institutions—from Nanking and Nankai Universities to the China International Famine Relief Commission—that sought ways to end the cycle that trapped the vast majority of Chinese farmers in poverty. This rich, wide-ranging, and stimulating work will appeal both to readers focused on present day China and those who want to understand China’s rural economy and credit policies in a historical context.
Author: Shenggen Fan Publisher: CRC Press ISBN: 1000237613 Category : Science Languages : en Pages : 196
Book Description
This study by Shenggen Fan makes three important and original contributions. It is the first study to report regional patterns of productivity growth in Chinese agriculture. There have been dramatic differences in output and productivity growth among Chinese regions. The second contribution is to measure the separate effects of technical change and institutional reform on productivity growth. Much of the rapid growth in agricultural production and in productivity since the late 1970s has been a consequence of an important series of institutional reforms. The third contribution is the first test of the induced innovation hypothesis against experience in a centrally planned economy. Regional patterns of productivity growth are consistent with the hypothesis that the path of technical change has been responsive to regional differences in resource endowments.
Author: Ziang Cheng Publisher: ISBN: Category : Languages : en Pages : 310
Book Description
In this thesis, I investigate certain aspects of credit in rural China between 1929 and 1933. Based on the extensive household-level data collected by John Lossing Buck for Land Utilization in China (1937) the purpose of this thesis is two-fold. First, I explore factors that influenced Chinese farmers' credit demand, supply and productivity. I include interactions including controls for the very uncertain historical environment facing farmers in the Republican era. Second, I investigate the constraints on access to credit, taking advantage of the data used and model I chose given the data available to me. More specifically, I determine the relationships between special expenditures (Weddings, Funeral, etc.), agricultural production and the demand and supply of credit. The conclusions I get are Chinese formal financial system was far away from complete due to the poor political and natural environment. Formal sources of credit are minuscule; Chinese farmers relied heavily on informal credit channels for consumptive purpose and productive purpose. In most cases from the regressions I run, loan demand increases with productivity; the higher productivity, the greater loan demand will be. For indebted farmers, the correlation between consumptive loan supply and productivity is negative while it is positive between productive loan supply and productivity. From the credit demand function, if there is more consumptive loan supply, there will be more consumptive loan demand; if there is more productive loan supply, and there will be less productive demand. We show that farmers' demand for credit was impacted by their purpose to borrow. From the credit supply function, increase in consumptive loan demand will not increase consumptive loan supply; while if the demand for productive loan demand was greater, the supply will also be higher. The final implications I find are that the more special the expenditure (wedding and funeral expense) the greater was credit demand by farmers (at least those who borrowed). And for those farmer who are not accustomed to living in debt, their decision to borrow or not will not be affected by the happening of wedding or funeral event. Some farmers may suffer great poverty but they still will choose not to borrow. An important conclusion from this study is that, by and large, the Chines farmer was a ratetaker. Our results find in the overwhelming number of cases that the demand was almost, if not, perfectly inelastic. Thus, we find over and over that the greater the demand for credit the higher the interest rate charged. This conclusion comes from the observation that in virtually all models examined, the supply equation had a positive relation between interest rate charged and loan demanded, but the demand equation had no measureable statistical relation between amount borrowed and the interest rate charged. As for production loans, at least some of the models investigated showed a downward, sloping demand for credit, and a positive relationship between credit and agricultural productivity. Finally, this study was based on the actual household data gathered by Professor Buck. Thought lost to history, this data was discovered in 2000 in the archives at Nanjing Agricultural University, and was preserved, and digitized by faculty and students in the College of Economics and Management, Nanjing Agricultural College. This thesis is the first to use this data outside of China, and the only study to investigate agricultural credit. We believe that this is the only study to investigate empirically and statistically the demand and supply of credit in the Republican era. However, we should also mention that not all data was recovered so there is not a perfect match on all variables between our available sample and the summary statistics in Land Utilization in China, although for the most part they are close and very much consistent. ii.
Author: Xiao-yuan Dong Publisher: Taylor & Francis ISBN: 1351952161 Category : Business & Economics Languages : en Pages : 324
Book Description
This book identifies the main challenges Chinese agriculture is confronting and considers how these challenges might be met. The performance of China's agricultural production is comprehensively assessed while the factors that affect agricultural productivity are examined through detailed econometric analysis and up to date nationally representative data.
Author: Hao Hu Publisher: Springer ISBN: 3030126889 Category : Business & Economics Languages : en Pages : 311
Book Description
This edited volume analyzes land utilization data from farm surveys taken in China between 1929 and 1933. This data, which was the foundation for John Lossing Buck’s seminal work Land Utilization in China (1937), was thought lost to history until rediscovered in 2000. The book presents the first modern analyses of agricultural economics in Republican China using Buck’s micro-data, covering important topics such as nutritional poverty, tenancy issues, land productivity, surplus labor, workers’ incomes, credit supply, and regional differences. Through using modern analytical methods, this book presents a more accurate picture of the agricultural economy in the Republican Era and will be of particular interest to agricultural economists, economic historians, and Chinese studies scholars.
Author: Kumar, Anjani Publisher: Intl Food Policy Res Inst ISBN: Category : Political Science Languages : en Pages : 36
Book Description
A goal of agricultural policy in India has been to reduce farmers’ dependence on informal credit. To that end, recent initiatives have been focused explicitly on rural areas and have had a positive impact on the flow of agricultural credit. But despite the significance of these initiatives in enhancing the flow of institutional credit to agriculture, the links between institutional credit and net farm income and consumption expenditures in India are not very well documented. Using a large national farm household–level dataset and instrumental variables two-stage least squares estimation methods, we investigate the impact of institutional farm credit on farm income and farm household consumption expenditures. Our findings show that in India, formal credit is indeed playing a critical role in increasing both the net farm income and per capita monthly household expenditures of Indian farm families. We also find that, in the presence of formal credit, social safety net programs such as the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) may have unintended consequences. In particular, MGNREGA reduces both net farm income and per capita monthly household consumption expenditures. In contrast, in the presence of formal credit, the Public Distribution System may increase both net farm income and per capita monthly household consumption expenditures.