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This paper considers farmland conversion for the purpose of urban development as a series of transactions and discusses the determinants of appropriate governance structures for governing farmland conversion in terms of process efficiency. Towards this end, the paper develops a theoretical framework for analysing the process of farmland conversion based on transaction cost economics. The framework covers transactions, transaction attributes, governance structures and performance with the aim of minimising transaction costs. The paper also demonstrates the usability of the framework by creating a corresponding quantitative model for a case study in China. Furthermore, it identifies factors that influence the transaction costs associated with farmland conversion in China and explains why the related governance structures are chosen. [ABSTRACT FROM PUBLISHER]

The balance between agricultural development and maintenance of agro-ecological environment becomes a huge challenge because of global climate changes. Existing literature on the low-carbon pilot policy proposed by the government of China and whether the problems of agricultural development and agricultural environmental protection can be solved or not have not been reviewed. This paper analyzes the impact of low-carbon pilot policies on agricultural eco-efficiency by using SARAR model based on the data of 281 cities in China. Results show the spatial spillover effects between low-carbon pilot policies and agricultural eco-efficiency. The implementation of low-carbon pilot policy can improve agricultural eco-efficiency. Although restrained by agricultural economic development, this policy has disequilibrium effect on agricultural eco-efficiency, has a relatively large impact on agricultural eco-efficiency in western China and other poor areas, and promotes the reduction of agricultural carbon emission. The effect of the implementation of low-carbon pilot policy is affected by the initial agricultural economic development and urban economic conditions. This research aims to improve the agricultural eco-efficiency and enforce the green development of the agricultural economy via the perspective of the low-carbon pilot policy. [ABSTRACT FROM AUTHOR]