title: Capital formation and agricultural growth in China

authors: Ma, Hengyun

subjects: Lewis-Model

abstract: The paper considers the role and determinants of capital formation in Chinese agriculture and, in particular, the effects of capital formation on agricultural total factor productivity (TFP) growth. The results show that capital investment in agriculture by both government and farmers has risen significantly in the past two and a half decades, particularly in recent years. As China remains in the early stages of agricultural policy transition, its political economy would suggest that there will likely be more public investment in, and more subsidies to, agriculture in the coming years. Increased public investment in agriculture appears to have also induced increased farmers' capital formation in agriculture. Credit policy, the overall growth of farmer's income, rural wages, and comparative advantage of commodities are important factors that may facilitate farmers' investment in agriculture. The results also show that the successful growth of China's agriculture has been associated with its high TFP growth. Both public and private agricultural capital formations have played an important role in raising China's agricultural productivity. The TFP decomposition analyses show that technological change is a primary driver of the TFP growth in China's agriculture.

text: Capital formation and agricultural growth in China The paper considers the role and determinants of capital formation in Chinese agriculture and, in particular, the effects of capital formation on agricultural total factor productivity (TFP) growth. The results show that capital investment in agriculture by both government and farmers has risen significantly in the past two and a half decades, particularly in recent years. As China remains in the early stages of agricultural policy transition, its political economy would suggest that there will likely be more public investment in, and more subsidies to, agriculture in the coming years. Increased public investment in agriculture appears to have also induced increased farmers' capital formation in agriculture. Credit policy, the overall growth of farmer's income, rural wages, and comparative advantage of commodities are important factors that may facilitate farmers' investment in agriculture. The results also show that the successful growth of China's agriculture has been associated with its high TFP growth. Both public and private agricultural capital formations have played an important role in raising China's agricultural productivity. The TFP decomposition analyses show that technological change is a primary driver of the TFP growth in China's agriculture.

year: 2013

title: The response of exchange rate pass-through to the macroeconomic environment

authors: Holmes, Mark J.

subjects: exchange rate pass through

abstract: This paper offers new insights into the nature of exchange rate pass through modelling in the context of a Markov regime-switching environment. Using New Zealand data, the results indicate that pass through to import prices resulting from fluctuations in the exchange rate or exporter costs can be characterised as regime-specific. Furthermore, there is evidence that the probability of switching between higher and lower pass through regimes is significantly influenced by inflation where stable rates of inflation increase the probability of remaining in a low pass through regime.

text: The response of exchange rate pass-through to the macroeconomic environment This paper offers new insights into the nature of exchange rate pass through modelling in the context of a Markov regime-switching environment. Using New Zealand data, the results indicate that pass through to import prices resulting from fluctuations in the exchange rate or exporter costs can be characterised as regime-specific. Furthermore, there is evidence that the probability of switching between higher and lower pass through regimes is significantly influenced by inflation where stable rates of inflation increase the probability of remaining in a low pass through regime.

year: 2009

title: Keepa Te Wharau: a Ngati Rahiri rangatira

authors: Hart, Philip

abstract: Keepa Te Wharau’s whakapapa linked him, unusually, to both Ngati Maru and Ngati Haua. Through these connections he was associated with the Te Aroha district from an early age, visiting it on several occasions and even cultivating there, briefly. When the block was before the land court he gave evidence – though his evidence in a later succession case was clearly wrong, deliberately so. Having interests in several blocks of land, he falsely claimed not to have received money for the Aroha Block, using the excuse of drunkenness, for which he was before the court on several occasions. He would sell land, as would his children, to meet living expenses. He invested in two goldfields, Thames and Te Aroha, very modestly. A leading rangatira, he was notable for his loyalty to the Crown.

text: Keepa Te Wharau: a Ngati Rahiri rangatira Keepa Te Wharau’s whakapapa linked him, unusually, to both Ngati Maru and Ngati Haua. Through these connections he was associated with the Te Aroha district from an early age, visiting it on several occasions and even cultivating there, briefly. When the block was before the land court he gave evidence – though his evidence in a later succession case was clearly wrong, deliberately so. Having interests in several blocks of land, he falsely claimed not to have received money for the Aroha Block, using the excuse of drunkenness, for which he was before the court on several occasions. He would sell land, as would his children, to meet living expenses. He invested in two goldfields, Thames and Te Aroha, very modestly. A leading rangatira, he was notable for his loyalty to the Crown.

year: 2016