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Effects of Fiscal Subsidies Policyt for Agriculture

Author: YangLingLing
Tutor: YinYinPin
School: Southwestern University of Finance and Economics
Course: Finance
Keywords: Financial subsidy Financial , agricultural subsidies Farm machinery at the end of owned amount Profitability Economies of scale
CLC: F812.8
Type: Master's thesis
Year: 2011
Downloads: 204
Quote: 1
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Abstract

Financial subsidy policy is an important lever of government regulation of the national economy, adjusting economic structure and market failures, as well as an important means to stimulate consumption and expand domestic demand. Financial subsidies from the macro can be divided into subsidies to the agricultural sector, the industrial sector subsidies, and subsidies for other departments. Where agriculture is the foundation of the national economy, but also a major source of industrial and other industrial raw materials. The financial support for agriculture is necessary in view of the special nature of the industry of agriculture, financial and agricultural policy has important practical significance. At this stage, most of the financial subsidy policy is based on a theoretical exploration of the quantitative research literature, for more weak fiscal policy of agricultural subsidies. This article intends to explore the economic effects of the fiscal policy of agricultural subsidies, two lines from a qualitative and quantitative analysis of micro-economic effects of the financial subsidy policy and macroeconomic effects, theoretically from the experience of foreign financial policy of agricultural subsidies to improve our financial agriculture subsidy policies; empirical point of view, the implementation of the fiscal policy of subsidies for agricultural machinery and tools to analyze data from China's agricultural machinery effect. Theoretical analysis, from the micro and macro perspective to analyze the economic effects of the financial subsidy policy and provide theoretical support for the empirical part of the back, the paper also discusses the implementation of the developed countries and countries under the WTO rules, fiscal policy of agricultural subsidies as well as our inspiration. In the theoretical analysis, the paper argues that: first, from the micro-economic point of view, the financial subsidy policy for consumers and producers produce a significant impact on financial subsidies to improve the purchasing power of consumers, so that consumers increase purchase of financial subsidies, financial subsidy policy also makes products business production subsidies on the basis of the size of the original sales increase sales, thereby enhancing the profitability of enterprises, enterprises have the ability to expand the scale of production, generate economies of scale. Second, the financial subsidies from the macro, structural adjustment and economic growth of the national economy has produced an important impact. First of all, the Government, through the optimization of the economic structure of the different sectors of the financial subsidy policies tend to support agricultural development through increased financial subsidies on agricultural inputs, to reduce the cost of production of agricultural products, or to raise the price of agricultural products; Secondly, the use of financial subsidies the expansionary effect of the policy to stimulate consumption and investment, so as to promote the growth of the national economy. Third, look at the fiscal policy of agricultural subsidies from the developed countries, the prices of agricultural products are maintained at a high level, the larger the scale of government subsidies on agriculture, improve the structure; Comparatively speaking, China's agricultural subsidy policies there are many deficiencies place. WTO rules require countries to cut export subsidies for agricultural products in order to maintain the normal market price, according to the severity of the impact on trade, \agricultural subsidies, and increase efforts to \Empirical analysis, the first analysis of the status quo of China's financial, agricultural subsidies, and the range of agricultural subsidies, the process, and the role of agricultural subsidies from the meaning of the financial, agricultural subsidies, several aspects of the implementation of the fiscal policy of agricultural subsidies. Second, in view of the fiscal policy of agricultural subsidies, there are a lot of deficiencies, this article macroscopic scale and structure of the financial, agricultural subsidies be analyzed. Microscopic analysis section, through both the supply and demand of farm machinery to measure the effect of policy implementation of the financial, agricultural subsidies. The use of the 1998-2008 farm machinery ownership, net income of rural residents and the central finance agricultural subsidies amount of data at the end of econometric analysis, explore the farm machinery subsidy policy so that the increase in the demand side of agricultural ownership, the demand side of the farm machinery, which is agricultural subsidies for the implementation of the policy object, that purchase agricultural farmers or other actors; whether to raise the level of mechanization of our farmers to explore from a descriptive analysis of the level of agricultural mechanization; data from the financial statements of listed companies, asset net profit margin, sales margin as well as the scale of production indicators to analyze the impact of the fiscal policy of agricultural subsidies on farm machinery manufacturers. Through empirical testing to the following conclusions: First, the size of the fiscal policy of agricultural subsidies insufficient, imperfect structure. Increasing the overall size of the fiscal policy of agricultural subsidies, and the amplitude of each year are expanding, but relative to the demand for agricultural machinery, agricultural subsidies, the scale is still insufficient; product structure from the structure of agricultural subsidies, one agricultural subsidies, financial subsidies funding emphasis on subsidies for large machinery, small mechanical or highly difficult enough arable machinery subsidies; areas of agricultural subsidies, farm machinery has the amount of horizontal regional differences more obvious development level of regional agricultural ownership than high, mountainous or underdeveloped areas little or almost no agricultural operations, agricultural subsidy policy should be on the basis of the overall national level of mechanization in favor of the major grain-producing counties, to ensure food security. Second, since the implementation of the fiscal policy of agricultural subsidies have indeed made a lot of positive role. First, the fiscal policy of agricultural subsidies to enable farmers to the end of farm machinery has increased by regression analysis can be financial, agricultural subsidies amount for every one unit increase in the end of farm machinery has increased to 0.01407 units; Second, the fiscal policy of agricultural subsidies so that China's agricultural mechanization improved rapidly, from 35.7% in 2004 to 45.8% in 2008, the average annual growth of nearly 3 percent, but compared with the developed countries, the level of mechanization of agriculture, China's agricultural mechanization level was still far less than developed countries The large area of ??agricultural machinery production, due to the limitations of the land tenure system, China is still stuck in stage operating household machinery and hand. Third, for the production of farm machinery manufacturers, from the view of a listed company's financial data analysis, the fiscal policy of agricultural subsidies makes enterprise sales margin and net profit margin of assets increased corporate profitability increased; asset structure , since the implementation of the fiscal policy of agricultural subsidies, corporate profits increase, the increase in current assets and enterprises have a cost advantage, and thus have the strength to increase the scale of production to achieve economies of scale. Possible innovations of this article is to apply econometric analysis to explore with the amount of the fiscal policy of agricultural subsidies on farm machinery, and case studies from the perspective of the impact of fiscal policy of agricultural subsidies for farm machinery manufacturers to broaden the perspective of the analysis.

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