International Journal of Economy, Energy and Environment

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The Dynamic Analysis of China's Agricultural Economic Growth

Received: 15 October 2019    Accepted: 07 November 2019    Published: 04 December 2019
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Abstract

Based on time series data from 1990 to 2016, an empirical analysis examined the factors affecting China's agricultural economic growth by developing a vector auto-regressive model (VAR), impulse response function (IRF) and variance decomposition function (VD). The results show that Chinese agriculture lacks long-term support factor. During the study period, an increase in the fixed asset investment, the total agricultural machinery power, the amount of chemical fertilizer used, and the education level of the rural labor force contributed to agricultural economic growth. However, an increase in the size of the agricultural labor force and in the total area under cultivation was not conducive to agricultural economic growth. In addition, China's agricultural economic growth was overly dependent on financial investment, while the contribution of other factors was relatively small. China's agricultural economy clearly has experienced extensive development. Hence, in the next development period, the Chinese government needs to increase agricultural fixed asset investment and strengthen its oversight. In addition, the government needs to strengthen its support of agricultural mechanization, set reasonable limits on the use of chemical fertilizers and, more importantly, focus on improvement in the quality of agricultural products and the accumulation of human capital.

DOI 10.11648/j.ijeee.20190406.11
Published in International Journal of Economy, Energy and Environment (Volume 4, Issue 6, December 2019)
Page(s) 106-117
Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.

Copyright

Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

Agricultural Economic Growth, Fixed Asset Investment, Agricultural Labor Force Size, Total Power of Agricultural Mechanization, Fertilizer Application Amount, Total Area Under Cultivation, Human Capital

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Author Information
  • School of Business, Hohai University, Nanjing, China; Science and Technology System Reform Think Tank of Jiangsu Province, Nanjing, China

  • School of Business, Hohai University, Nanjing, China; Science and Technology System Reform Think Tank of Jiangsu Province, Nanjing, China

  • School of Business Administration, Hohai University, Changzhou, China

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    Wu Mingran, Zhao Min, Wu Zhaodan. (2019). The Dynamic Analysis of China's Agricultural Economic Growth. International Journal of Economy, Energy and Environment, 4(6), 106-117. https://doi.org/10.11648/j.ijeee.20190406.11

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    Wu Mingran; Zhao Min; Wu Zhaodan. The Dynamic Analysis of China's Agricultural Economic Growth. Int. J. Econ. Energy Environ. 2019, 4(6), 106-117. doi: 10.11648/j.ijeee.20190406.11

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    AMA Style

    Wu Mingran, Zhao Min, Wu Zhaodan. The Dynamic Analysis of China's Agricultural Economic Growth. Int J Econ Energy Environ. 2019;4(6):106-117. doi: 10.11648/j.ijeee.20190406.11

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  • @article{10.11648/j.ijeee.20190406.11,
      author = {Wu Mingran and Zhao Min and Wu Zhaodan},
      title = {The Dynamic Analysis of China's Agricultural Economic Growth},
      journal = {International Journal of Economy, Energy and Environment},
      volume = {4},
      number = {6},
      pages = {106-117},
      doi = {10.11648/j.ijeee.20190406.11},
      url = {https://doi.org/10.11648/j.ijeee.20190406.11},
      eprint = {https://download.sciencepg.com/pdf/10.11648.j.ijeee.20190406.11},
      abstract = {Based on time series data from 1990 to 2016, an empirical analysis examined the factors affecting China's agricultural economic growth by developing a vector auto-regressive model (VAR), impulse response function (IRF) and variance decomposition function (VD). The results show that Chinese agriculture lacks long-term support factor. During the study period, an increase in the fixed asset investment, the total agricultural machinery power, the amount of chemical fertilizer used, and the education level of the rural labor force contributed to agricultural economic growth. However, an increase in the size of the agricultural labor force and in the total area under cultivation was not conducive to agricultural economic growth. In addition, China's agricultural economic growth was overly dependent on financial investment, while the contribution of other factors was relatively small. China's agricultural economy clearly has experienced extensive development. Hence, in the next development period, the Chinese government needs to increase agricultural fixed asset investment and strengthen its oversight. In addition, the government needs to strengthen its support of agricultural mechanization, set reasonable limits on the use of chemical fertilizers and, more importantly, focus on improvement in the quality of agricultural products and the accumulation of human capital.},
     year = {2019}
    }
    

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    T1  - The Dynamic Analysis of China's Agricultural Economic Growth
    AU  - Wu Mingran
    AU  - Zhao Min
    AU  - Wu Zhaodan
    Y1  - 2019/12/04
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    DO  - 10.11648/j.ijeee.20190406.11
    T2  - International Journal of Economy, Energy and Environment
    JF  - International Journal of Economy, Energy and Environment
    JO  - International Journal of Economy, Energy and Environment
    SP  - 106
    EP  - 117
    PB  - Science Publishing Group
    SN  - 2575-5021
    UR  - https://doi.org/10.11648/j.ijeee.20190406.11
    AB  - Based on time series data from 1990 to 2016, an empirical analysis examined the factors affecting China's agricultural economic growth by developing a vector auto-regressive model (VAR), impulse response function (IRF) and variance decomposition function (VD). The results show that Chinese agriculture lacks long-term support factor. During the study period, an increase in the fixed asset investment, the total agricultural machinery power, the amount of chemical fertilizer used, and the education level of the rural labor force contributed to agricultural economic growth. However, an increase in the size of the agricultural labor force and in the total area under cultivation was not conducive to agricultural economic growth. In addition, China's agricultural economic growth was overly dependent on financial investment, while the contribution of other factors was relatively small. China's agricultural economy clearly has experienced extensive development. Hence, in the next development period, the Chinese government needs to increase agricultural fixed asset investment and strengthen its oversight. In addition, the government needs to strengthen its support of agricultural mechanization, set reasonable limits on the use of chemical fertilizers and, more importantly, focus on improvement in the quality of agricultural products and the accumulation of human capital.
    VL  - 4
    IS  - 6
    ER  - 

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