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The Evolution of Intersectoral Financial Relations between Industry and Agriculture in China's Planned Economy Period

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  • Jiyuan Lyu

Abstract

This paper examines intersectoral financial relations between industry and agriculture during 1949--1977 through four channels: fiscal, price, quantity procurement, and foreign trade. We find that these relations underwent staged evolution rather than constituting a persistent transfer mechanism: agriculture supported industry in the 1950s, the year 1961 marked a turning point, and the 1970s witnessed the emergence of mutual interdependence between the two sectors. No stable empirical pattern of price mechanisms persistently affecting industrial profitability is observed.

Suggested Citation

  • Jiyuan Lyu, 2026. "The Evolution of Intersectoral Financial Relations between Industry and Agriculture in China's Planned Economy Period," Papers 2606.20286, arXiv.org, revised Jul 2026.
    • Handle: RePEc:arx:papers:2606.20286
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    1. James Millar, 1970. "Soviet rapid development and the agricultural surplus hypothesis," Europe-Asia Studies, Taylor & Francis Journals, vol. 22(1), pages 77-93.
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