Grain Policy in China's Provinces: Simulating the Response of Yields to Pricing, Procurement and Loan Policies

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Abstract
This paper assesses the effects of pricing, procurement and loan policies on China's grain economy. A dynamic control model of the village leader is specified. Parameters of structural and control equations are estimated using time series cross-section data. Simulation results show that pricing and procurement policies are not effective in raising yields due to conflicting objectives of officials. Loan policies can increase yields.
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