Download or read book Agricultural Prices in China written by Nicholas R. Lardy and published by . This book was released on 1983 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper describes the major features of China's agricultural pricing system as they have evolved since l949, but focuses on adjustments in the 1976-82 period. The institutional setting for price policy is described, price-cost relationships are examined and price ratios from key inputs and outputs are defined. A major portion of the paper is devoted to agricultural marketing policy and consumer subsidies. The size of important subsidies is estimated and their distributional and allocative implications are explored. The paper suggests that state interventions in the agricultural pricing system provide disproportionately high benefits to relatively advantaged urban consumers and may restrict adjustment to more economically efficient production patterns in agriculture.