Study On Governmental Agriculture Investment Efficiency In China

The government's agricultural investment efficiency has been one of issues that draw the most attention in the public investment sector. Since the founding of new China, the Chinese government has been enlarging the scale of agricultural investment gradually, optimizing the investment structure, stably promoting reform of the management system, thus playing an important role in the steady development of agriculture, continuous income growth of farmers and the harmony and stability of rural areas. Since the second half of 2008, to cope with the severe impacts of the international financial crisis, the Chinese government has formulated"a package of"economic stimulus to expand domestic demands and promote economic growth; an important part is to hike up the government's public investment, noticeably in agriculture. Under such context, it is particularly urgent and necessary to properly manage and use the government's agricultural investment and make efforts to improve its efficiency.In terms of the theory and practice, this paper systematically studies the agricultural investment efficiency of the Chinese government. Particularly using the econometric model and statistical analysis, this paper systematically analyzes the scale, output and structure efficiency of the Chinese government's agricultural investment. The innovative research is reflected in the following three perspectives:Firstly, this paper provides a basis for analysis of the setup of the government's agricultural investment indicators and the construction of a statistical system. Based on the existing statistical data, in terms of construction and development, this paper gives the government's agricultural investment a definition, which is beyond the scope of traditional investment in agricultural fundamental construction and differs from the fund for financial expenditure in support of agriculture. We could say that this is a small step forward. Although far from adequate, it lays a good foundation for the accommodation to the government's reform in expenditure classification, and for the acceleration of studies and setup of the government's new agricultural investment index and statistical system in line with the public finance and the new rural construction.Secondly, the paper introduces a complete set of econometric application methods for research on the government's agricultural investment efficiency. In addition to the commonly-used elasticity approach, this paper makes empirical analysis of the government's agricultural investment efficiency with the multivariate statistical and VAR approach, impulse response function and VECM, which is an innovation and breakthrough in research on the government's agricultural investment efficiency, deepens the research methods to some extent, and enhances the depth of research. Furthermore, in terms of mathematical economics, this paper explains the evolution and the intrinsic mechanism of the government's agricultural investment efficiency and broadens the new research field of the government's agricultural investment efficiency. Thirdly, this paper builds up the basic framework for the evaluation system of agricultural investment efficiency of the Chinese government. This paper pioneers the systematic analysis of the evaluation system of agricultural investment efficiency of the Chinese government, attempts to make up the basic framework for the evaluation system of agricultural investment efficiency of the Chinese government, on this basis improves the multi-leveled and multi-purpose evaluation system framework, thus bridges the gap in the domestic theoretical research on the evaluation system of the government's agricultural investment efficiency. Noticeably, in terms of practice, this paper defines the basic content of the evaluation system of the government's agricultural investment efficiency, which provides a feasible evaluation basis for the government's agricultural investment administration authority and project undertakers. Certainly, the framework of the evaluation index system is yet being conceived. The system needs further enrichment, development and improvement through practice.