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Price Scissors and Intersectoral Resource Transfers: Who Paid for Industrialization in China?

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  • Knight, John

Abstract

The phenomena of 'price scissors' and intersectoral resource transfers are shown to be amenable to analysis using offer curves from international trade theory. The nature and mechanisms of resource transfer and the incidence of the burden are clarified. In examining the sectoral funding of investment, it can be misleading to look at resource transfers: the hand that wields the scissors can effect an invisible transfer from agriculture. The theory is illustrated by reference to the Chinese economy and extended to incorporate such Chinese features as compulsory deliveries of food, consumer rationing, political constraints, and the dynamic effects of industrialization. Copyright 1995 by Royal Economic Society.

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  • Knight, John, 1995. "Price Scissors and Intersectoral Resource Transfers: Who Paid for Industrialization in China?," Oxford Economic Papers, Oxford University Press, vol. 47(1), pages 117-135, January.
    • Handle: RePEc:oup:oxecpp:v:47:y:1995:i:1:p:117-35
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    Cited by:

    1. Justin Yifu Lin & Miaojie Yu, 2008. "The Economics of Price Scissors : An Empirical Investigation for China," Governance Working Papers 22019, East Asian Bureau of Economic Research.
    2. Raghbendra Jha & Anandi P. Sahu, 1997. "Tax policy and Human Capital Accumulation in a Ressource-Constrained Growing Dual Economy," Public Finance Review, , vol. 25(1), pages 58-82, January.
    3. Adam Fforde, 2009. "Policy ethnography and conservative transition from plan to market," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 36(6), pages 659-678, May.
    4. Adam Fforde, 2022. "Understanding how systemic change happens -marketisation and de-marketisation," Post-Print hal-03677990, HAL.
    5. Adam Fforde, 2022. "Understanding how systemic change happens - marketisation and de-marketisation," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 15(1), pages 62-94.
    6. Shawn Xiaoguang Chen & Yudan Cheng & Liutang Gong & Wenjia Tian, 2023. "A Big Push of Panda from the Ground: Land Subsidy and Structural Transformation in China," Economics Discussion / Working Papers 23-09, The University of Western Australia, Department of Economics.
    7. Wei, Yanning & Gong, Yue, 2019. "Understanding Chinese rural-to-urban migrant children’s education predicament: A dual system perspective," International Journal of Educational Development, Elsevier, vol. 69(C), pages 1-1.
    8. Imai, Hiroyuki, 2000. "The Labor Income Tax Equivalent of Price Scissors in Prereform China," Journal of Comparative Economics, Elsevier, vol. 28(3), pages 524-544, September.
    9. Yifu Lin, Justin & Li, Zhiyun, 2008. "Endogenous Institution Formation under a Catching-up Strategy in Developing Countries1," Policy Research Working Paper Series 4794, The World Bank.
    10. Yanagihara, Toru & Hisamatsu, Yoshiaki, 1998. "Development strategy reconsidered : Mexico, 1960-94," Policy Research Working Paper Series 1889, The World Bank.
    11. John Knight & Sai Ding, 2010. "Why Does China Invest So Much?," Asian Economic Papers, MIT Press, vol. 9(3), pages 87-117, Fall.
    12. Mohsen Fardmanesh, 2017. "Inter-Sectoral Terms of Trade and Investible Surplus," Working Papers 1060, Economic Growth Center, Yale University.
    13. Linda Yueh, 2010. "The Economy of China," Books, Edward Elgar Publishing, number 3705.
    14. Deng, Kent & Du, Jane, 2024. "Domestic savings-driven growth: unveiling internal economic dynamics in China, 1980-2010," Economic History Working Papers 122355, London School of Economics and Political Science, Department of Economic History.

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