Evaluation On Public Investment

Integrated Agriculture Development (IAD) Program which started from 1998 is considered one of the most significant measures to enhance grain security in China. The government-sponsored program focuses on improving agriculture production condition by land reclamation and investing in agriculture infrastructure, like roads, irrigation facilities etc. Facts show that it not only enhances agricultural productivity, but also promotes agriculture modernization and increases farmer's income greatly. Based on the fund set up by the central government's budget, multi-stakeholders, such as local governments, farmers, and banks, participated the program. During the last decade, the total investment in IAD is about 3.5 times the central government support. To evaluate the achievements of IAD completely and accurately, this paper developed a theoretical framework on public investment appraisal and conducted empirical study by regarding Jiangsu Province as a case region.How to validate and appraise the current investment performances of IAD is a question that must be solved first therefore, based on theoretical analysis of public financial framework and the IAD practice in Jiangsu Province, the author analyzes the society economical and ecology benefit of the current IAD investment from the theory and the policy aspects, and carries on the concrete analysis aimed at the investment of IAD in Jiangsu Province especially.The paper first reviewed several theories about IAD, then inspected international experiences and procedures on IAD. After that, The article has carried on the time series analysis to the investment of IAD from 1988 to 2004. Based on the analysis, IAD should pay attention to promote overall development of the agriculture, forestry, grazing and fishing, forcusing on the agricultural extension service, designing proper mechanism, the agricultural comprehensive productivity, and the protecting improving environment.From Jiangsu Province's geographic region, in Jiangsu, IAD investment and financial investment are basically synchronous, moreover from the region, the northern Jiangsu, Central China and southern Jiangsu also displays the similar regularity. This has reflected dependence of the IAD investment to the public financial. Therefore, we must safeguard the support of the public expenditure to IAD. In order to analyze the performances of IAD investment, the paper carried on the demonstration analysis from IAD investment performances and the investment contribute to the agriculture product.The fuzzy mathematics method was used to evaluate Integrated Agriculture Development investment benefit of IAD in Jiangsu during the investment performances analysis. And the qualitative factors such as ecological environment and the social capital were included, which made the evaluation more comprehensive and scientific. The results showed that IAD investment performances in Southern Jiangsu were better than those in Middle Jiangsu, and Middle Jiangsu better than Northern Jiangsu.But in order to make the developmental plan of Northern Jiangsu as a whole with those of Southern Jiangsu and Middle Jiangsu, more IAD investments should be paid to Northern Jiangsu, the land government project investment should be enlarged, and the agricultural production condition in Northern Jiangsu should be improved. In view of economic effect of input and output of IAD, Northern Jiangsu should take production increase as the main target of IAD land government project investment, and Southern Jiangsu and Middle Jiangsu should take ecological environment improvement as the main target. On analyzing the investment Contribute to the agriculture product of IAD,. The results showed that the IAD public investment had gained better effect in guiding and driving the peasants to invest.Based on the results above, this paper had drawn several conclusions: (1) investment is the important contents in the public finance agriculture devotion; (2) the IAD has the stronger dependence to the public public finance; (3) the management of the IAD becomes the key to performance its results; (4) it is importment to constrncte the legal system about IAD; (5) the arget of the IAD from single to diverse direction conversion; (6) the benefit appraisal of IAD and the measurement result indicated the investment policy achievements were bvious, (7) the IAD investment had significant effect on the achievements of agriculture growth.So, corresponding policy and suggestions were proposed, including: to establish powerful public financial support to IAD investment; to construct scientific decision-making mechanism of IAD investment; to have the corresponding necessary measure of Integrated Agriculture Development investment and thus make it implemented smoothly and effectively; to enhance the efficiency of fund usage and perfect IAD function mechanism; to utilize comparative advantage to ascertain the direction of IAD investment, the proportion of investment and inclined industry; at the same time, the property system and the legal system should be innovated.