The Performance Analysis Of Capital Expenses Of Agricultural Comprehensive Development To Agricultural Production Efficiency Of Hebei Province

With the increasing of population, Chinese land decrease a lot in1980s.The condition ofagricultural production is harsh and land resources is reduced year by year. So Chinaimplemented a comprehensive agriculture development (CAD) project to address theshortage of food supply from1988. CAD is to improve the basic conditions of agriculturalproduction, to integrate development and utilization of agricultural resources, to strengthenagriculture and rural infrastructure. The main content is to enhance the agriculturecomprehensive production capacity. Its fundamental objective is the realization of agriculturalmodernization and fairly well-off farmers. With the basis of central government’s financeinvestment, CAD accumulates agricultural development capitals by the methods ofmulti-channels, multi-layers, multi-ways. Apart from that, it has set up capital-formingmechanisms and comprehensive investment mechanisms, in which the former is country-led,matching-investment, built by civilians but sponsored by government, rolling development,the latter is regarding country investment as the dominant status and farmers, investment themain body. Hebei Province is one of the largest provinces in agricultural production; As aCAD first pilot provinces, After20years of implementation and ongoing adjustment andimprovement, the CAD in Hebei Province has made tremendous achievements. Theimplementation of the CAD in Hebei Province do truly improve agriculture comprehensiveproduction capacity?To what extent does CAD funding give contribution to overall agricultural productioncapacity? Comprehensive technical efficiency of agricultural production is represented theagriculture comprehensive production capacity. On the basis of comprehending the formationand development of investment mechanism of CAD deeply, according to sources ofinvestment, the investment structure and size in,this Paper makes a positive analysis onagricultural development funds expenditures and capital expenditures of land managementprojects and the efficiency of agricultural production dynamics and the contribution of HebeiProvince.With the data envelopment analysis model and the econometric analysis method,Preliminary results are as follows: Fiest, the capital expenditure structure and scale of comprehensive agriculturaldevelopment need further adjust and perfect. A bank loan fund investment ratio in the sourceof investment is small. Therefore, Hebei province need strengthen the social capitalinvestment and improve farmers’ ability of loans. In addition, the absolute scale of capitalexpenditure of CAD was on an increase, but the proportion of CAD expenditure in thefinancial support of agriculture expenditure was on a descenting trend.Second, from the view of the long-run equilibrium, the total expenditures and landmanagement projects of CAD capital expenditures has played positive role in promoting theefficiency of agricultural production. Land management projects capital expenditures hasmade a larger contribution to the efficiency of agricultural production compared with thecomprehensive agricultural development funds expenditures. From the short-termfluctuations, the total expenditure and the efficiency of agricultural production are mutuallyreinforcing. Besides, impulse response function results show that the financial expenditurehas a positive shock effect on agricultural and agricultural production efficiency. The totalexpenditure of the CAD increase the contribution of the efficiency of agricultural productiongradually and the late contribution exceeds the efficiency of agricultural production.Efficiency of agricultural production in the short-term of land management and projectcapital expenditures fluctuations about the CAD are also affected by other factors.