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Supply Response and Risk in Chinese Agriculture

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  • S. Ghatak
  • J. Seale

Abstract

The main objective of this paper is to model the production and supply response in Chinese agriculture, which includes not only the standard arguments like expected prices but also risk. We extend Lin's work [1991, 1992] by modelling supply response as a three-equation model. We fit our model to data for 28 Chinese provinces from 1970 to 1997 to determine whether national Chinese agricultural supply is price and price risk responsive. Further, we fit our model to data for North, Northeast, South and Southeast regions. Results from the three systems equations are compared to single equation estimations. At the national level, Chinese agriculture is found to be price and price risk responsive. The regional analyses suggest that significant regional differences exist. Unlike Lin, we do not find the household responsibility system (HRS) to be the dominant factor in increased yields in different regions of China.

Suggested Citation

  • S. Ghatak & J. Seale, 2001. "Supply Response and Risk in Chinese Agriculture," Journal of Development Studies, Taylor & Francis Journals, vol. 37(5), pages 141-150.
    • Handle: RePEc:taf:jdevst:v:37:y:2001:i:5:p:141-150
    DOI: 10.1080/00220380412331322151
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    Citations

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    Cited by:

    1. Fengxia Dong & Frank Fuller, 2010. "Dietary Structural Change in China's Cities: Empirical Fact or Urban Legend?," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 58(1), pages 73-91, March.
    2. Michaela BERANOVÁ & Dana MARTINOVIČOVÁ, 2010. "Application of the theory of decision making under risk and uncertainty at modelling of costs," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 56(5), pages 201-208.
    3. Hurley, Terrance M., 2010. "A review of agricultural production risk in the developing world," Working Papers 188476, HarvestChoice.
    4. Antony, Nyerere, 2016. "Determinants Of Rice Supply In Tanzania," Research Theses 276426, Collaborative Masters Program in Agricultural and Applied Economics.
    5. Lavee, Doron, 2010. "The effect of water supply uncertainty on farmers' choice of crop portfolio," Agricultural Water Management, Elsevier, vol. 97(11), pages 1847-1854, November.
    6. Brockhaus, Jan & Huang, Jikun & Hu, Jiliang & Kalkuhl, Matthias & von Braun, Joachim & Yang, Guolei, 2015. "Rice, wheat, and corn supply response in China," 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California 205988, Agricultural and Applied Economics Association.

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