Price Adjustment, the Responsibility System, and Agricultural Productivity
Abstract
The Government of the People's Republic of China considers that the prospects for rapid and broadbased economic growth in China depend crucially on the ability to increase production in the agricultural sector. The major instruments available to the government include reform of the institutional structure of farm management, modification of the farm price structure, and increase of budgetary expenditure in support of agriculture. Since 1978, the central government has stressed use of the first two instruments and some initial judgments can be made about the effectiveness of its measures based on recent official statistics.
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