Market Imperfections and Output Loss in the Presence of Expenditure Constraint: A Generalized Shadow Price Approach
针对发展中国家普遍存在的资本市场不完善和农民预算约束，本文利用间接生产函数研究289名印度稻农，发现市场扭曲导致平均产出损失约12%。
Abstract In view of widespread capital market imperfections and farmers' budget constraints in developing countries, an indirect production function (IPF) is used for a study of 289 Indian paddy growers. The analysis generalizes the IPF to accommodate the numerous kinds of market imperfections and policy‐induced distortions that pervade less developed countries' agriculture. The presence of these distortions in an expenditure‐constrained situation results in a loss of output, defined as the difference between maximal potential output and actual output. For the sample of farmers, average output loss is found to be in the range of 12%.