The Impact of Mungbean Research in China
The Impact of Mungbean Research in China
The Impact of Mungbean Research in China
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
Annex 3. Values for estimation <strong>of</strong> producer and consumer surplusParameter Value SourceInitial quantity produced (Q 0) 500,000 MT Fig. 2Initial producer price (PP 0) 191.1 US$/ ton World Bank, World DevelopmentIndicators for exchange rate US$/ RMBInitial quantity consumed (C 0) 500,000 MT Fig. 2Initial consumer price (PC 0) 191.1 US$/ ton World Bank, World DevelopmentIndicators for exchange rate US$/ RMBSupply elasticity (ε 0) 0.317 Annex 1Demand elasticity (η 0) -0.231 Annex 2Population growth rate 1.2% World Bank, World Development IndicatorsIncome growth rate 7.2% World Bank, World Development IndicatorsIncome elasticity 0.263 Fan et al. (1995)Exogenous growth rate supply 1.9% Growth <strong>in</strong> total gra<strong>in</strong> output (Fig. 3)Probability <strong>of</strong> success 100%Maximum adoption rate 85%<strong>Research</strong> lag3 yearsAdoption lag10 yearsNet cost decrease 1%, 2%, 5%, 10% AssumptionTotal research cost to Ch<strong>in</strong>a 4.5 million US$ Chapter 2, World Bank, World DevelopmentIndicators for exchange rate US$/ RMBTotal research cost to AVRDC 2.4 million US$Real discount rate 5%26
Change language