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The Role of Land in Growth of Farmers’ Income: Protection or Obstacle?
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TitleThe Role of Land in Growth of Farmers’ Income: Protection or Obstacle?  
AuthorLuo Yongmin and Fan Liming  
OrganizationShanghai University of Finance and Economics 
Key WordsLand; Famers’ Income; Protection; Obstacle  
AbstractThe land has been regarded as the most important source of farmers’ income for thousands of years. But with the rising of the proportion of wage income, the role of land is increasingly blurred in growth of farmers’ income in the new century. This paper empirically analyses the effect of rural land on income growth in China from the view of three aspects: the direct effects of land on the income of farmers, inter-provincial competition of agricultural products and labor, the impact on the income effect of agricultural productive capital. By developing a dynamic stochastic general equilibrium model which considering some unique economic phenomena in china, the numerical simulations find some useful results. China's rural land protects farmers' agricultural income but also hinders the growth of off-farm income. Thus land has negative effect on adjacent provinces’ agricultural income of farmers, but positive effect on off-farm income. With the rising of the land size per capita, land will have stronger (weaker) effects on improving farmers' agricultural (off-farm) income. Furthermore, the paper uses the provincial panel data from 1998 to 2012 to verify the above conclusions.  
Serial NumberWP848 
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