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Drawing on the broad literature on agricultural development and particularly on the contribution of price and non-price factors, this study examines how government support contributes to farm incomes from rice cultivation in two frontier rice-growing regions in Asia: Kerala, southern India and Mekong Delta, Vietnam. We use a detailed case study approach to offer a unique comparison between two best-performing areas that are similar in agroclimatic conditions and institutional trajectories, which is generally wanting in literature. Our farm budget analysis and counterfactual simulations using household-level data show that the local (state-level) price support contributes to more than half of the average crop income per hectare in Kerala. While the per hectare crop income for a single season in Vietnam was significantly lower than in Kerala, the annual incomes were higher due to multiple cropping. We combine these survey-based results with qualitative insights to examine how various factors have led to the observed scenario. This comparative analysis demonstrates the need for specific non-price interventions, particularly in terms of research and extension services, in enhancing incomes for agriculturally advanced regions within developing countries.

The relevance of the topic of the article - the issues of innovative development of agroindustrial complex of Kazakhstan, which provides large-scale production, require detailed study. The goal - is to consider the positive aspects of the best practices of foreign countries regarding this problem and develop practical recommendations. Methods - generalization, quantitative and qualitative analysis, abstract logical. Results - in order to apply high technologies in agricultural sector, economically developed countries use subsidy systems, price support (USA), government assistance in obtaining income per hectare and payments for livestock (EU countries), income support through payments (Canada) and concessional lending (Brazil). In addition to financial assistance, agricultural producers in the USA, Canada and other countries are provided with information, legal, innovation, marketing, insurance and other types of support. Conclusions - innovative processes, expansion of the competitive environment in the AIC presuppose the effective use of scientific and technical potential, integration of science, education and production, technological modernization of the economy based on progressive methods. Innovation is reflected in the implementation of the strategic objectives of ensuring food security and effective regulation of the domestic food market in order to stimulate labor productivity in agriculture, increase export potential of agricultural sector. It is necessary to combine innovative activity in domestic agro-industrial production with international practice, which will increase production capacity of agrarian sector of the republic. The development trends of the world market convincingly show that there can be no other way in Kazakhstan than the formation of a new type of economy, widespread innovation.

This paper reviews rice procurement operations of Government of India from the standpoints of cost of procurement as well as effectiveness in supporting farmers’ incomes. The two channels in use for procuring rice till 2015, were custom milling of rice and levy. In the first, the government bought paddy directly from farmers at the minimum support price (MSP) and got it milled from private millers; while in the second, it purchased rice from private millers at a pre-announced levy price thus providing indirect price support to farmers. Secondary data reveal that levy, despite implying lower cost of procurement was discriminated against till about a decade back and eventually abolished in 2015 in favor of custom milling, better trusted to provide minimum price support. We analyze data from auctions of paddy from a year when levy was still important to investigate its impact on farmers’ revenues. We use semi-nonparametric estimates of millers’ values to simulate farmers’ expected revenues and find these to be rather close to the MSP; a closer analysis shows that bidder competition is critical to this result. Finally, we use our estimates to quantify the impact of change in levy price on farmers’ revenues and use this to discuss ways to revive the levy channel.

Heavy share buyback years after the global finance crisis 2008–2009 drew criticism from scholars and financial press that share repurchases were being used by firms to manipulate their stock prices. This paper examines whether a greater firm’s repurchase intensity distorts stock prices reflecting to information. We analyse 2 sets of unbalanced panel data that contain a sample of 337 US and another sample of 167 Malaysian repurchasing firms between 2012 and 2016. Contrary to the criticism, we find that a greater firms’ share buyback intensity in the USA stimulates faster incorporation of information in price and results in more efficient stock prices. The main findings hold true and are robust when an alternative measure of share repurchase intensity was used. The findings of US sample support the notion that share repurchase serves as a signalling tool and price support to promote more efficient stock prices. We also find no strong evidence supporting the notion that shares repurchased by Malaysian firms distort stock prices. JEL Classifications: G10, G14, G35

Purpose: This paper examines whether a greater firm’s repurchase intensity translates into more efficient stock price. Design/ Methodology/ Approach: An unbalanced panel data, that consists of a sample of 337 US repurchasing firms between 2012 and 2016, was analyzed. Based on the result of the Hausman test, fixed effects estimator was employed to estimate the coefficients. To address heterogeneity across time and firms, time effect and standard error clustered by firms were applied. Findings:Agreater firms’ share buyback intensity stimulates faster incorporation of information in price and results more efficient stock prices. The main findings were further confirmed with robustness test and supports the notion that share repurchase serves as signalling tool and price support to promote more efficient stock price. Practical implication: The finding has implication on how share repurchase can be used in three ways: to ease panic selling and deep selling pressure during the downtime; enhance informed trading in which is a result of information signalled by managerial share repurchases; and attract investors’ attention on neglected and undervalued stock. Originality/value: This research provides new insight and empirical evidenceto reject public cynicism about share repurchases used by firms to manipulate their share prices.

China is a predominant soybean importer; thus, its domestic soybean policies have a large impact on world soybean market dynamics. We develop the first aggregate structural econometric model of China's soybean market and link it to the rest of the world (ROW), which allows us to analyze the impacts of China's soybean price support policy that ran from 2008 to 2013. We investigate the impacts of China's policy on the variability of their domestic and world soybean prices, and adopt a Monte Carlo simulation to evaluate the effects on distributional and aggregate welfare. Our results indicate: (a) after China's soybean price support policy, price transmission elasticity decreases, China's domestic price variability decreases, and world price variability increases; (b) China's producer surplus increases, consumer surplus decreases and the net welfare change in their domestic market is negative; and (c) although soybean exporting countries in the ROW experience significant welfare gains, the world net welfare change is negative.

The current price support policies in China have positive impacts on grain prices and production costs. These policies mediate the impacts on grain supply and demand, and, in turn, affect food security and farmer income. This paper simulates and empirically establishes the effect of price support policies on food security and farmers’ net incomes through a partial equilibrium model that considers the policy impact mechanism. The results indicate that a 10 per cent support price increase in 2012 may result in (1) an increase of 1.38 and 6.19 percentage points in self‐sufficiency rates for rice and wheat, respectively, in the current year and (2) a respective increase of 28.6 and − 18.5 yuan/mu in net income for rice and wheat production in the year. Given the significant growth in grain support prices since 2008, the price support policies have produced a tremendous impact in terms of enhancing grain self‐sufficiency, while playing a crucial role in China’s food security strategies. However, due to the increased production costs associated with policy implementation, the income effect of the price support policies is rather small and even negative for wheat production. Hence, increasing farmers’ incomes should rely on other effective measures, such as providing income subsidies.

The paper employs the computable general equilibrium (CGE) model of the Oromia region of Ethiopia to assess the macroeconomic impacts of agricultural policy on agricultural growth and rural households’ social welfare. The analysis is based on social accounting matrix (SAM) of Oromia region. This Oromia SAM is employed as a framework to estimate the effects of policy shocks on rural households’ social welfare. This SAM provides base year data needed for policy simulation in CGE model of Oromia region. This study develops two simulations based on economic assumptions and tests their effects on agricultural production, and social welfare. The first set of experiment focuses on the irrigation policies that change the factor intensities in the production of agricultural commodities, and the second one focuses on the precision agriculture that raises agricultural productivity in the use of technologies. The analysis identifies that irrigation scaling up has a positive effect on agricultural production, and social welfare. The application of precision agriculture generates a significant and positive effect on agricultural productivity and production, and rural households’ income and consumption. This finding suggests that price support policy should be implemented simultaneously with suggested policies.

The Chinese pilot target-price-based subsidy program (TSP) on the cotton market in Xinjiang region started in 2014 and is regarded as an effective policy, motivating cotton farmers and reducing cotton imports. This paper develops and applies a partial equilibrium model of the cotton market with regional details and linkages to the rest of the world to quantify the market and welfare impacts of a nationwide TSP. The results show a significant increase in domestic output and decrease in imports without significantly reducing current national welfare as long as the target price does not go below 120 percent of market price. In addition, measures that restrict the release of cotton stock to the domestic market would help the government in reaching its objective of supporting cotton farmers and reducing import.

Prior research shows that failures to deliver, which commonly occur around initial public offerings (IPOs), typically result from underwriter price stabilization. Additionally, investors often establish short positions in IPO stocks that are unrelated to underwriter price stabilization. We study the relation between failures to deliver, short sales, and IPO trading costs. We find that failures to deliver are associated with greater liquidity, especially for IPOs likely to receive underwriter price support. However, contrary to prior research that finds that short selling is associated with greater liquidity, we find that short selling is negatively correlated with liquidity for IPO stocks with strong investor demand.

PurposeThe purpose of this paper is to develop a partial equilibrium model for the Tunisian dairy sector according to “quantity formulation” and “price formulation” and to show their equivalence under the assumption of perfect competition.Design/methodology/approachThis model incorporates domestic policies, that is, producers' price support and subsidies to milk collection centres and trade policies, that is, TRQ and ad valorem tariffs. The authors illustrate theoretically and numerically how to incorporate the minimum price policy at the farm level for the Tunisian dairy sector according to the price formulation approach.FindingsTwo scenarios for the removal of a minimum price policy are analysed and show that producers' surplus loss varies between 78.6 and 127.8 million dinars. The overall welfare implications of removing a minimum price policy are negative and range between 13.3 and 18.2 million dinars.Research limitations/implicationsThis study could not include all of the detailed factors in the Tunisian dairy sector.Originality/valueBased on the numerical results obtained in the study, the authors recommend that public authorities maintain the minimum price policy because it prevents a decrease in raw milk producers' surplus. Moreover, this policy is effective because it generates excess raw milk production, estimated at 28.23% in 2010, that can be used for various homemade dairy products. Under an effective minimum price policy, the formal processing sector absorbs all the excess raw milk only if the public authorities allocate grants to encourage investment in new milk collection centres and in milk drying equipment, especially in disadvantaged rural regions. The latter economic policy coupled with a minimum price policy not only guarantees a higher income for raw milk producers but also may represent a development factor for underprivileged rural areas.

Agricultural support is a very important element in agricultural policy in many countries. Agricultural support is basically an instrument to meet the overall objectives of the agricultural policy – objectives set by society. There are a great number of instruments and ways of intervention in agricultural policy and they have different functions and impacts.