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Implicit Contracts and the Grey Market for Fertilizer in China AgEcon
Fulton, Murray E.; Giannakas, Konstantinos; Yunlai, Xiao.
A common occurrence in many countries is that policy outcomes differ from the official objectives of the policy directives. A good example can be found in China. In 1994, the fertilizer market in China underwent a significant change. In response to strong complaints from farmers in a number of regions about shortages and substantial price increases, the central government set the markup rate for fertilizer as it moved from fertilizer plants to farmers and granted the Agricultural Means of Production Corporations(AMPCs) a monopoly role as the supplier of fertilizer. The results of the 1994 policy reforms were not as expected. Controls on maximum retail prices failed to produce the desired effect and prices for agricultural inputs continued to increase by...
Tipo: Journal Article Palavras-chave: Agricultural and Food Policy.
Ano: 2003 URL: http://purl.umn.edu/45701
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