Edited by P. J. Lloyd and Xiao-guang Zhang
Chapter 13: Supply response of the marketed surplus of grains in China
Zhang-Yue Zhou, Wei-Ming Tian and GuangHua Wan INTRODUCTION Information on the supply response of the marketed surplus of grains is of great value for policy formulation and it is particularly so for societies where grain production is subsistence in nature. In past decades, a number of studies have focused on the marketed surplus of various crops in societies where grain production is of a subsistence nature. See, for example, Krishna (1962), Falcon (1964), Mubyarto (1965), Behrman (1966), Mangahas, Recto and Ruttan (1966), Bardhan (1970), Lim (1975), Chinn (1976), Ahluwalia (1979), Barnum and Squire (1979), Strauss (1984), Renkow (1990), and Reddy, Chengappa and Achoth (1995). Studies of this kind for China are generally scarce. A few recent attempts are Du (1995), Zhang (1997), Zong and Davis (1998), and Zhou and Wan (1998). Using data aggregated at the regional level, Du (1995) estimated supply responses of the marketed surplus for rice, wheat, corn and soybean. This study, however, suffers from data deﬁciencies. ‘Data of marketed surplus for individual grain crop are also unavailable … and the elasticity for individual crops has to be deduced based on certain assumptions … These defects in the data may affect the accuracy of the results’ (Du 1995, pp. 207– 8). Zhang (1997) did set the stage for modelling the supply response of the marketed surplus of grains, but did not carry out any econometric analysis. Instead, he used correlation analysis to examine the factors affecting the level of marketed surplus. Zong and Davis (1998) also used aggregate...
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