Research Article
The Impact of Financial Market Development on Agricultural Factor Misallocation: Household-Level Evidence from China
Table 3
Factor elasticities and shadow price of land (λ) in China.
| | | East | Middle | West |
| | Capital | 0.75 | 0.68 | 0.71 | | Labor | 0.08 | 0.04 | 0.12 | | Land | 0.17 | 0.28 | 0.17 |
| | Region | Year | Marginal output of land (RMB/mu/year) | Price of land (RMB/mu/year) | Shadow price of land (RMB/mu/year) |
| | East | 2010 | 872.76 | 232.16 | 640.60 | | 2012 | 132.26 | 254.29 | -122.03 | | 2014 | 2064.95 | 260.95 | 1804.00 | | 2010 | 541.31 | 78.13 | 463.18 | | Midland | 2012 | 170.76 | 200.00 | -29.24 | | 2014 | 617.33 | 368.19 | 249.14 | | 2010 | 1028.31 | 277.06 | 751.25 | | West | 2012 | 240.01 | 275.00 | -34.99 | | 2014 | 462.17 | 225.92 | 236.25 |
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