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| 1 |
ID:
130539
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2014.
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| Summary/Abstract |
This paper measures the economic impacts of climate change on China's grain production by using provincial time series data over a 32-year period. The panel data model and time series region model with/without adaptation are applied at the same time to assess the effectiveness of a common production function. To capture the effects of weather variables we employ a random coefficients model where the production elasticities are the logarithmic function on temperature and rainfall. A Cobb-Douglas production function with additional interaction between inputs and climate variables is applied. We find that the economic impacts of climate change are mixed, that is, some regions are winners and others are losers, and the effect is crop-specific, not general. With adaptation, the economic impacts of warming on grain production are always positive; less precipitation will benefit rice production, but will harm wheat and maize production. Most of the central, western and northern China, which have already been adapted, are less sensitive to climate variables, but some eastern provinces, such as Shandong and Hebei, are very vulnerable. However, this study finds that the adaptation by irrigation is not sensitive to climate change. In summary, the analysis indicates that policymakers should recognize that the climate change would change the productivity of factors, so a regional and crop-specific total-factor-adaptation model is recommended.
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| 2 |
ID:
116524
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2012.
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| Summary/Abstract |
This paper empirically estimates individual household credit demand elasticities based on 897 farm households surveyed in Shaanxi and Gansu provinces in the People's Republic of China (PRC) in October 2009. We used survey-based experimental techniques to extract individual household credit demand functions from which we estimated point demand elasticities. From a theoretical point of view, we proposed that as interest rates fell the demand for credit increased in elasticity, and this appears to hold in our data. We find a range of elasticities with mean point estimates of about - 0.6. We find that nearly 20% of farm households have nearly perfectly inelastic demands for credit but we also find that nearly 20% have elasticities above - 0.75 including some 15% that have elasticities greater than - 1.0. Previous studies that have argued against credit policies because of the low inelasticity of demand do not generally hold. There is much heterogeneity in credit demand and we would argue that a full spectrum of targeted credit policies can be used to address differences across farms.
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| 3 |
ID:
147616
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This article quantifies the impact of H7N9 bird flu on chicken demand and consumer willingness to pay (WTP) in China. We measure risk perception, fear and trust against actual reduction in consumption and stated change in WTP for safe chicken between 2012 and 2013. Through a survey conducted in each year on the same Chinese urban consumers, we found that the consumption of chicken never increased after the emergence of H7N9 in 2013, and WTP for safe chicken did not necessarily increase relative to generic risks associated with consuming chicken in 2012. Factors such as the fear of H7N9's spreading, the impact of distrust (especially the distrust in government) enhanced the deviation of consumption and WTP; and the sheer mentioning of H7N9 is more important and negative than whether it was associated with a risk-perception reducing or risk-perception elevating message given to consumers.
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| 4 |
ID:
101156
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2010.
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| Summary/Abstract |
This paper explores the relationship between informal and formal lending in China with consideration of how the strength of informal lending might affect microcredit. Lending relationships involving trust are investigated using original survey data from over 1500 farm households. Econometric results confirm a relationship between trust and informal lending, and mistrust and formal lending. With over 67% of farm households borrowing from friends and relatives the economic significance between this form of informal lending and borrowing from Rural Credit Cooperatives and Micro Finance Institutions cannot be overlooked.
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