Title The Political Economy of Grain Double-Track System in China

【Abstract】 Double-track system is an institutional arrangement adopted by China during its transition from planned economy to market economy. Compared with the 鎻僫g Bang? reforming model, it has the characteristics of gradualism, marginality, path- dependence and reversibility. This process of institutional change is an exchange of rights and obligations between government, producers, and consumers. Although the implementing costs were high, it reduced friction costs through Pareto Improvement and therefore brought about a successful and smooth Economic growth in China. Double-track system widely existed in every sector of China鎶economy. The most typical ones in the industrial sector were in the production and marketing fields of means of production such as steel, electricity and natural gas. The most typical one in the Agricultural sector was in the production and marketing fields of grains. After over 20 years of market-oriented reform, the markets of all industrial products and most Agricultural products have been totally opened. The double-track system survived, however, in the production and marketing fields of grains, which reflects the complexity and uniqueness of this reform. Unfortunately, relevant theoretical and empirical studies on this topic were rarely done, and there have always been debates on the effects of double-track system on grain production, which made it difficult to correctly understand this process of institutional change, not to mention to put forward theoretical reference and policy recommendation for deepening the reform of grain marketing system. This paper focuses on the double-track system in the fields of grain production and marketing, and analyses quota allocation, farmers?grain supply response and the effects of market intervention. There are, all together, eight chapters. Chapter 1 briefly introduces the background, scope and objectives of this paper. Chapter 2 comprehensively reviews the emergence and evolution of the double-track system in grain marketing. Moreover, it describes data resource and statistical analysis. Chapter 3 reviews and evaluates relevant articles. Chapter 4 describes different roles of government departments at different levels in the grain double-track system, and explores the determinants of quota allocation and their relationship with policy objectives by the construction and implementation of a grain quota allocation model. Chapter 5 analyses farmers?grains supply response under the double-track system by way of a supply response model incorporated with price expectation. Chapter 6 examines the effects of market intervention by the construction and implementation of a grain market intervention model and compares them with relevant countries. Chapter 7 analyses the ending conditions, transitional proposals and periods of the double-track system, as well as makes comment on current grain and agricultural policies. Chapter 8 presents the conclusion of this paper, and briefly points out the directions for further studies. 151 Using the panel data from 25 rice-growing counties in 3 provinces (Zhejiang, Jiangsu and Sichuan), the empirical studies show the following findings: I. Central and local governments play different roles in the grain double-track system. Generally speaking, quota quantity and quota price were set by the central government, and allocated top-down. Great differences exist between counties in quota quantity, whereas the difference of quota price bet

Category Agriculture
Subject and Market Intervention, China, Double-Track System, Grain Marketing System, Quota PriceQuota Allocation, Quotn Quantity, Supply Response,
FileType PDF
Pages 179
Price US$109.00
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