How County-Level Agricultural Loans and Fiscal Expenditure Impact Rural Residents' Income in China——An Empirical Study of the Hierarchical Effect by Quantile Regression
Using cross-sectional data from 853 counties in 11 western China provinces, we employ quantile regression (QR) and instrumental variable quantile regression (IVQR) to investigate the hierarchical effect of fiscal expenditure and agricultural loan on rural residents' income. We find: (1) the relation...
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Published in | Frontiers of economics in China Vol. 11; no. 2; pp. 302 - 320 |
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Main Authors | , |
Format | Journal Article |
Language | English |
Published |
Beijing
Higher Education Press
01.06.2016
Higher Education Press Limited Company |
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Abstract | Using cross-sectional data from 853 counties in 11 western China provinces, we employ quantile regression (QR) and instrumental variable quantile regression (IVQR) to investigate the hierarchical effect of fiscal expenditure and agricultural loan on rural residents' income. We find: (1) the relationship between agricultural loan and income is consistent with the inverted U-shape (Kuznets curve); (2) the coefficient of quantile regression for rural residents' loan gradually decreases; particularly, the impact on the high-income group is insignificant (at 0.90 quantile); (3) for 0.10 and 0.50 quantile, the increase of fiscal expenditure would hinder rather than promote income growth; (4) the restraining effect becomes more pronounced for the lower groups; in contrast, there is a significant positive relationship between income and fiscal expenditure for 0.90 quantile's income group. Implications for government policy formulation are propounded accordingly. |
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AbstractList | Using cross-sectional data from 853 counties in 11 western China provinces, we employ quantile regression (QR) and instrumental variable quantile regression (IVQR) to investigate the hierarchical effect of fiscal expenditure and agricultural loan on rural residents' income. We find: (1) the relationship between agricultural loan and income is consistent with the inverted U-shape (Kuznets curve); (2) the coefficient of quantile regression for rural residents' loan gradually decreases; particularly, the impact on the high-income group is insignificant (at 0.90 quantile); (3) for 0.10 and 0.50 quantile, the increase of fiscal expenditure would hinder rather than promote income growth; (4) the restraining effect becomes more pronounced for the lower groups; in contrast, there is a significant positive relationship between income and fiscal expenditure for 0.90 quantile's income group. Implications for government policy formulation are propounded accordingly. Using cross-sectional data from 853 counties in 11 western China provinces, we employ quantile regression (QR) and instrumental variable quantile regression (IVQR) to investigate the hierarchical effect of fiscal expenditure and agricultural loan on rural residents' income. We find: (1) the relationship between agricultural loan and income is consistent with the inverted U-shape (Kuznets curve); (2) the coefficient of quantile regression for rural residents' loan gradually decreases; particularly, the impact on the high-income group is insignificant (at 0.90 quantile); (3) for 0.10 and 0.50 quantile, the increase of fiscal expenditure would hinder rather than promote income growth; (4) the restraining effect becomes more pronounced for the lower groups; in contrast, there is a significant positive relationship between income and fiscal expenditure for 0.90 quantile's income group. Implications for government policy formulation are propounded accordingly. |
Audience | Academic |
Author | Xiaohua Wang Li Liu |
AuthorAffiliation | v College of Economics and Management & Postdoctoral Station of Statistics, Southwest University, Chongqing 400715, China Center for Research in Managemem, The University of Toulouse 1, Capitole, Toulouse 31042 France |
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Notes | Using cross-sectional data from 853 counties in 11 western China provinces, we employ quantile regression (QR) and instrumental variable quantile regression (IVQR) to investigate the hierarchical effect of fiscal expenditure and agricultural loan on rural residents' income. We find: (1) the relationship between agricultural loan and income is consistent with the inverted U-shape (Kuznets curve); (2) the coefficient of quantile regression for rural residents' loan gradually decreases; particularly, the impact on the high-income group is insignificant (at 0.90 quantile); (3) for 0.10 and 0.50 quantile, the increase of fiscal expenditure would hinder rather than promote income growth; (4) the restraining effect becomes more pronounced for the lower groups; in contrast, there is a significant positive relationship between income and fiscal expenditure for 0.90 quantile's income group. Implications for government policy formulation are propounded accordingly. fiscal expenditure, agricultural loan, loan for rural residents, ruralresidents' income, quantile regression 11-5744/F quantile regression rural residents’ income agricultural loan loan for rural residents fiscal expenditure |
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Snippet | Using cross-sectional data from 853 counties in 11 western China provinces, we employ quantile regression (QR) and instrumental variable quantile regression... Using cross-sectional data from 853 counties in 11 western China provinces, we employ quantile regression (QR) and instrumental variable quantile regression... |
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SubjectTerms | Agricultural industry Agricultural lending agricultural loan Analysis Expenditures Farm loans fiscal expenditure Government finance High income loan for rural residents Loans Public expenditures Public policy Quantile regression Regression analysis rural residents’ income Studies 中国农村 分位数回归 县域农业 居民收入 库兹涅茨曲线 正相关关系 财政支出 贷款 |
Title | How County-Level Agricultural Loans and Fiscal Expenditure Impact Rural Residents' Income in China——An Empirical Study of the Hierarchical Effect by Quantile Regression |
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