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Do China’s agricultural policies matter for world commodity markets?

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Purpose – The purpose of this paper is to quantify the implications of China’s recently adopted
agricultural policies on domestic and international commodity markets.
Design/methodology/approach – A systematic, quantitative analysis is applied to address
whether China’s recent trade and production policies distort China’s domestic and international
commodity markets. The paper provides a clear picture of how trade-restricting policies affect markets
using a 42-country partial equilibrium global dynamic agricultural simulation model.
Findings – The paper shows that recent agricultural policy reforms increase China’s production
slightly, causing imports to decrease while exports decline because of input subsidies, export taxes
and the reduction of export value added tax rebates. Domestic prices to consumers decrease in real
terms. The effects on world markets are small as the set of policies adopted partially offset each other
in the international arena.
Research limitations/implications – The paper indicates that the adoption of the policy reforms
lower price levels domestically and benefit lower income urban and rural households, whose diets are
largely based on rice and wheat as staple foods. Future model enhancements should include measures
of producer and consumer welfare in order to capture the total impacts of policies and policy changes
in China.
Originality/value – The paper quantifies the potential implications of the recent agricultural policy
reforms in China. This contributes to the investigation of the effects of these policies implemented by
the Chinese Government to achieve the country’s policy objectives. Owing to the dynamics of China’s
policy implementation an in-depth analysis sheds light and contributes to capturing the impacts
of policy reforms on the domestic and international markets.

Keywords China, Value added tax, Exports, Commodity markets, International economics, Economic equilibrium

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Ketersediaan

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Informasi Detail

Judul Seri

China Agricultural Economic Review

No. Panggil

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Penerbit

: Emerald Group., 2011

Deskripsi Fisik

China Agricultural Economic Review Vol. 3 No. 1, 2011 pp. 6-25

Bahasa

English

ISBN/ISSN

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Klasifikasi

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Tipe Isi

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Tipe Media

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Tipe Pembawa

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Edisi

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Subjek

EKONOMI

Info Detail Spesifik

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Pernyataan Tanggungjawab

Asmawati/Syahrial

Versi lain/terkait

Lampiran Berkas

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