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The Agricultural Roots of Market Economy

Yuhua Wang

出版	SSRN, 2014
URL	http://books.google.com.hk/books?id=aFkfzwEACAAJ&hl=&source=gbs_api

註釋

I propose an agricultural theory of economic transformation that rice cultivation is conducive to market reform. Using sub-national data from China, I show that market reform is more successful in rice than in wheat regions after controlling for income, policy, geography, and interest groups, and the effect of rice is as important as geography. Exploiting a geographic regression discontinuity design based on China's Qin Mountains-Huai River line, I show that rice's effect on market reform is causal. Causal mediation analysis and historical evidence demonstrate that rice cultivation contributes to market economy through strong state capacity, rather than culture or public support, because rice cultivation necessitates large water-control projects that require a strong state. The agricultural theory pushes back the causal chain to find a structurally deeper cause of reform out- comes in the developing world. Cautions should be taken when generalizing the theory outside Asia.