印度最低價格支持政策對稻米與小麥市場的影響

Abstract

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The purpose of this Thesis research is to examine the impacts of Minimum Support Price Policy in India on the various aspects of the Indian agriculture sector. I create a unique pooled cross-sectional dataset for nine primary policy states and two key crops across 20 years. I use procurement quantities and MSP values to determine the impacts of this policy. Upon analyzing data with respect to the production characteristics of rice and wheat, namely, planted hectarage, production quantity, and yield we find that in all cases the policy has a significant and positive effect on their growth rate. Policy states have also been found to have higher increases in hectarage as compared to non-policy states. Production quantities are also found to be positively related to the procurement quantities, however, in the case of wheat, the specification reverts the results. In terms of procurement quantities, we could only find statistically significant estimates for Wheat, which estimates an increase of 66.69 thousand tonnes for every 1% increase in MSR. Also, there is no significant effect of this policy on the fertilizer usage, and this made sense considering the fertilizer variable encompassed the entire consumption of the state in all crops. In the case of electricity consumed by agriculture, the MSP variable estimated a larger effect for Wheat due to its inherently higher electricity requirement. For impact on cost of production, procurement quantities have little role in it. In the case of Farm Harvest Prices, I find a unit increase for every unit increase in the nominal MSP. Regarding whether storage infrastructure would improve procurement quantities, its influential only in the case of Wheat.