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Cointegration analysis of agriculture and non-agricultural sectors in the Chinese economy 1952-92

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  • Shujie Yao

Abstract

A vector autoregression (VAR) model is employed to investigate the cointegration relationship between agriculture and non-agricultural sectors in the Chinese economy during 1952-92. Three cointegration vectors are identified among agriculture, industry, construction, transport and services. Agriculture is found to be weakly exogenous to the economic system, suggesting that it was a main driving force for all the other sectors; but the converse is untrue. Government policies biased against agriculture are main reasons for agriculture's weak exogeneity.

Suggested Citation

  • Shujie Yao, 1994. "Cointegration analysis of agriculture and non-agricultural sectors in the Chinese economy 1952-92," Applied Economics Letters, Taylor & Francis Journals, vol. 1(12), pages 227-229.
    • Handle: RePEc:taf:apeclt:v:1:y:1994:i:12:p:227-229
    DOI: 10.1080/135048594357790
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    References listed on IDEAS

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    1. Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254.
    2. Johansen, Søren & Juselius, Katarina, 1992. "Testing structural hypotheses in a multivariate cointegration analysis of the PPP and the UIP for UK," Journal of Econometrics, Elsevier, vol. 53(1-3), pages 211-244.
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    1. Gaspar, João & Pina, Gilson & Simões, Marta, 2014. "Agriculture in Portugal: linkages with industry and services," Revue d'Etudes en Agriculture et Environnement, Editions NecPlus, vol. 95(04), pages 437-471, December.
    2. Tarlok Singh, 2016. "On the sectoral linkages and pattern of economic growth in India," Journal of the Asia Pacific Economy, Taylor & Francis Journals, vol. 21(2), pages 257-275, April.

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