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

Shujie Yao

Applied Economics Letters, 1994, vol. 1, issue 12, 227-229

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.

Date: 1994
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DOI: 10.1080/135048594357790

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