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Market failures and government failures: Industrial restructuring and pricing policy analysis for the Indian fertilizer sector.

机译：市场失灵和政府失灵：印度肥料行业的产业结构调整和价格政策分析。

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摘要

This thesis conducts an industrial restructuring and pricing policy analysis for the Indian fertilizer sector. The industrial restructuring analysis evaluates the impact of the government's industrial policies for the fertilizer sector--ex-factory pricing, control over imports, regulation of technology choice, and management of public enterprises--vis-a-vis the impact of liberalizing these policies. In addition, the thesis develops a framework for analyzing fertilizer pricing policy, focussing on price stabilization and subsidy. The analysis shows that price intervention is not necessarily Pareto-inferior to non-intervention in all cases. However, a "strong theorem" demonstrating the Pareto-superiority of price stabilization or fertilizer price subsidies clearly does not hold. Whether price stabilization or subsidy is desirable depends on the impact of instability and level of prices as opposed to the resource costs of intervention. The review of the literature suggests that some significant costs of price instability have not been incorporated--in particular, risk aversion to uncertain price fluctuations (with factors additional to the usual income risk aversion, given prices), with microeconomic costs consisting of transactions costs and psychic disutility, and macroeconomic impact on investment, growth and income distribution. In addition, particularly adverse movements in prices, in the face of imperfect capital and insurance markets, can lead to a 'bankruptcy effect'. In the Indian fertilizer sector, the likely costs on account of instability and high peaks/low troughs of international prices suggest that there are significant potential benefits to government intervention; the desirability of intervention, however, depends on whether it can actually offset the costs. Finally, the results of pooled, statewise cross-sectional, time-series regression model of the Indian agricultural sector show that there is considerable disequilibrium in fertilizer use, and that based on estimated elasticities, a fertilizer subsidy is socially profitable.
机译：本文对印度化肥行业进行了产业结构调整和价格政策分析。产业结构调整分析评估了政府产业政策对化肥行业的影响-出厂价，进口控制，技术选择管制和公共企业管理-相对于放开这些政策的影响。此外，本文还建立了一个分析肥料价格政策的框架，重点是价格稳定和补贴。分析表明，价格干预不一定在所有情况下均不亚于不干预。但是，显然没有一个证明价格稳定或肥料价格补贴具有帕累托优势的“强定理”。价格稳定还是补贴是可取的，取决于价格不稳定和价格水平的影响，而不是干预的资源成本。对文献的回顾表明，价格不稳定的一些重大成本并未纳入其中，尤其是对不确定价格波动的风险规避（在给定价格的情况下，除了通常的收入风险规避之外还有其他因素），微观经济成本包括交易成本以及精神上的无用，以及宏观经济对投资，增长和收入分配的影响。此外，面对不完善的资本和保险市场，特别不利的价格波动可能导致“破产效应”。在印度化肥部门，由于不稳定以及国际价格的高位/低谷而可能产生的成本表明，政府干预具有巨大的潜在利益；但是，干预的可取性取决于它是否能够实际抵消成本。最后，印度农业部门的按状态划分的按时间顺序的横截面回归模型的结果表明，肥料使用方面存在相当大的不平衡，根据估计的弹性，肥料补贴具有社会效益。

著录项

  • 作者

    Pradhan, Sanjay Kumar.;

  • 作者单位

    Harvard University.;

  • 授予单位 Harvard University.;
  • 学科 Economics Agricultural.;Economics Commerce-Business.
  • 学位 Ph.D.
  • 年度 1988
  • 页码 184 p.
  • 总页数 184
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类
  • 关键词

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