MARC 主機 00000nam  2200385   4500 
001    AAI9946992 
005    20100824140712.5 
008    100824s1999    ||||||||||||||||| ||eng d 
020    9780599491533 
035    (UMI)AAI9946992 
040    UMI|cUMI 
100 1  Luo, Xiaopeng 
245 10 Market integration and grain policy reform:  A case study 
       of the rice market in South China 
300    86 p 
500    Source: Dissertation Abstracts International, Volume: 60-
       09, Section: A, page: 3456 
500    Adviser:  Vernon Ruttan 
502    Thesis (Ph.D.)--University of Minnesota, 1999 
520    After the success of China's de-collectivization in the 
       early 1980s, the cost for the government to maintain its 
       control over surplus grain became prohibitive. But reforms
       for grain distribution repeatedly failed, forming two 
       similar policy cycles between 1985 and 1997. Liberalizing 
       grain trade seemed to be causing prices to increase after 
       the subsidized government stocks were depleted. And policy
       makers mistakenly reacted to the price increases by 
       resuming control of grain surpluses, actually fueling food
       inflation. Driven by the vicissitudes of the government 
       inventories, the trade-off made by the policy makers 
       between the costs and the perceived need to control grain 
       surpluses shifted policy preference between free trade and
       provincial self-sufficiency 
520    Two complementary econometric approaches for spatial price
       analysis, the Engle-Granger Cointegration Test and the 
       Parity Bounds Model have been applied to the time series 
       of rice retail prices, collected from nine provinces in 
       South China between 1987--1997. Test results indicated 
       that spatial integration of the rice market in South China
       has been fragile or unstable for individual market pairs. 
       The overall market tended to be more spatially integrated 
       when price levels (nominal) were rising, but it tended to 
       be more segmented when price levels were falling 
520    Grain market integration was primarily improved by the 
       rise of peasant marketing but it was usually harmed when 
       government trade flows expanded, because government grain 
       stocks were valued in artificial pricing mechanism rather 
       than by market prices. The results of the spatial 
       integration tests are consistent with the fluctuations of 
       government trade flows caused by the two policy reform 
       cycles between 1985 and 1997 
520    As the government lost its cost advantage in grain 
       marketing to the peasants in the 1990s, it became more 
       difficult for the government to control the grain 
       surpluses. Keeping the government prices below the market 
       value was politically troublesome for policy makers, but 
       raising prices closer to market value meant intolerable 
       costs for the government. As a result, policy makers again
       banned the peasants on grain marketing in 1998, however, 
       this decision only trapped China's grain policy even 
       deeper in a deadlock 
590    School code: 0130 
650  4 History, Asia, Australia and Oceania 
650  4 Economics, Agricultural 
650  4 Sociology, Ethnic and Racial Studies 
690    0332 
690    0503 
690    0631 
710 2  University of Minnesota 
773 0  |tDissertation Abstracts International|g60-09A 
856 40 |uhttp://pqdd.sinica.edu.tw/twdaoapp/servlet/
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