By Yiping Huang
The winning agricultural reform conducted in China within the Nineteen Seventies begun encountering mounting problems from the mid-1980s, as development premiums dropped and costs elevated sharply. This research analyzes the several reform measures brought in China long ago 20 years, and gives a whole research of the prevailing agricultural approach. via cautious exam of the political economic climate and the several coverage ideas, the writer argues that China should still push ahead with its market-oriented reform measures and introduce the trials of foreign pageant into the rural area.
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Additional resources for Agricultural Reform in China: Getting Institutions Right (Trade and Development)
One was to fix numbers of working points for each piece of agricultural production activity before it was assigned to a team member. Another was to simply record the number of days each member presented to work. At the end of the year, per day working points (usually in Institutional distortions in pre-reform agriculture 37 the range between 1-10) were determined through a democratic process among all team members (Lin 1988). 13 The Comprehensive Research Group of the Development Institute (CRGDI) estimated the transfer through price distortion from agriculture to industry as 600 billion yuan (CRGDI 1987).
Large fluctuations in prices due to small changes in production occurred often in 1994. Similar price instability was evident in other small closed food markets. The special mechanisms of monetary and fiscal policies and the soft-budget problem of the state sector magnified changes in agricultural markets and transformed some into macroeconomic problems, such as high inflation (chapter 6). The sharp rise in agricultural prices in 1994 pushed Chinese agriculture to a historical turning point. The agricultural sector was for long discriminated against during both the pre- and post-reform periods.
It did not happen. 1 'Building socialism in such a country was much more difficult and complicated than it would be after the victory of the revolution in a developed capitalist country where industrialisation had been completed and the small-scale peasant economy was insignificant' (Xue 1981: 292). The difficulties were to fashion economic policies aimed at developing the nascent communist economies. Raising living standards became a major objective for the new Chinese communist government for both political and economic reasons.
Agricultural Reform in China: Getting Institutions Right (Trade and Development) by Yiping Huang