Commonly employed global tests for separability between production and consumption decisions are theoretically inappropriate when the market failures creating non-separabilities differentially constrain some, but not all households. Simulated maximum likelihood estimates using Chinese panel data reject the restrictions implied by a global separability test in favor of regime-specific or local reparability tests. The estimates also show that a global approach to separability obscures the significant effect that less-encumbered land transfer rights would have on shadow factor price equalization across households and allocative efficiency. The findings on transfer rights suggest a resolution to the debate in China on further property rights reform. Copyright 2002 by American Agricultural Economics Association
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Volume (Year): 84 (2002) Issue (Month): 3 (August) Pages: 702-15 Download reference. The following formats are available: HTML
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