Research On The Pricing Of Market-oriented Circulation Of Farmlands Based On Constraint Of Property Rights

The big challenge faced in China for a long time is issue concerning farmers and peasants, and the big problem for the farmers and peasants is the land issue. Quicken rural land circulation is considered as one of favorable ways to establish urban-rural dual economic structure and solving issues concerning agriculture, countryside and farmers, namely"Three Rural Issues"in China. However, in China, the market for circulating rural land is developing slowly, circulation scale is comparatively small, and circulation efficiency is not high and yet the essence of the problem is that, due to the restriction of property right system, China's market economy has been excluding rural land property from pricing system of market resource and deficiencies in the pricing mechanism of circulating of rural land hamper the circulation and reduce the efficiency of circulation as well. To accelerate the pace of market-oriented circulation of rural land, establish and improve the efficient, fair, regulated market system of rural land circulation, scientifically distribute land resources so as to operate the land in appropriate scale, which has become the common goal of the government, society and the academic. Nevertheless, within the constraints of real property right, how to realize market-oriented circulation of rural land? What is the key point to decide the price?, which are the crucial issues for market-oriented circulation of rural land, but also major shortcomings in existing research.In this dissertation, Market Price Theory, Modern Theory of Property Rights, Bilateral Market Theory are comprehensively exercised, theoretical research and case studies are well combined, normative analysis and empirical analysis are complemented so as to do in-depth study on issues about market pricing of circulation of Chinese rural land under constraints of property rights. Current researches at home and abroad are expanded and improved in this dissertation, combining factors of the market and the mechanism, closely around the market pricing, focusing on inherent relation between property rights constraints and market mechanism, and as an important element, rural land protection will be introduced to analyze market pricing, this dissertation tries to establish theoretical framework of comprehensive pricing mechanism of market-oriented circulation of rural land, including the price formation mechanism, the price discovery mechanism and the price coordination mechanism. Research results in this dissertation show that throght exercising multiple roles of market competition, two-way auction, platform coordination and the Government protection, it not only can give full play to the market in resource allocation as as to enhance the efficiency of rural land circulation, but also provide property rights for rural land with ways to realize market orientation so as to better balance social equity. The specific content and conclusions are as follows:First of all, by reviewing the historical changes in China's rural land system, combined with land-related property rights theory, the formation and features of Chinese rural land property rights system are analyzed and summarized, which reveals property attributes of rural land circulation, as well as the particularity of China's rural land property rights.Second, by doing equilibrium analysis on market-oriented circulation of rural land, market pricing mechanism of rural land is discussed; by introducing land protection function, demand-supply model for optimal decisions between farmers and businesses is established, and then equilibrium of model is solved and analyzed. The equilibrium analysis show that monopoly will lead to reduce in equilibrium trading volume and price, when some factors are certain, in a competitive market and monopoly market, the impact of exogenous factors on equilibrium trading volume and price is in the same direction. Therefore, in order to enhance the efficiency of rural land circulation, it is advisable to avoid the monopoly formed in the rural land market, build up competitive rural land circulation market, and meanwhile focus on the fundamental factors which will affect market demand and supply and will at the same time through appropriate policy guidance and management.Third, by doing pricing analysis on agricultural commodities, the price discovery mechanism of rural land is discussed; two-way auction model functioned with land protection is established. In this model, farmers are considered as a seller who has land use right, and to those who are in need of land contractual management rights are regarded as a buyer, while the government is the auctioneer. Buyers and sellers respectively quote the auctioneer, and according to certain rules, auctioneer determines the transaction price, lastly, buyers and sellers complete transactions in this price. Equilibrium analysis on this model shows that, two-way auction mechanism will help to achieve Pareto improvement after realizing the efficiency of land use; the government can choose an optimal parameter in the rules of trading price to maximize the probability of successful transaction of rural land circulation, which provides the government with theoretical basis to determine parameter when designing trading rules.Fourth, by doing intermediary pricing analysis on rural land circulation, price coordination mechanism of rural land is discussed. Firstly, framework of conceptual model of transaction system for rural land circulation is established by applying bilateral market theory, introducing platform as a third party and in accordance with the connotation and characteristics of rural land circulation transaction. Further, profit model for trading rural land and social welfare model are built up so as to form the optimal price structure for transaction of rural land circulation. Studies in this dissertation show that, market-oriented rural land circulation is characterized by bilateral market, under the circumstances of cross-network externalities of market participants, platform (trade intermediaries) can attract more traders; platform pricing structure can affect the trading volume, as required, government can coordinate inadequate liquidity and abnormal trading volume that may arise due to externalities by tilting prices (subsidized or free) strategy so as to indirectoly realize the protection function of rural land.At last, taking, national coordinating urban and rural comprehensive reform pilot area, Chengdu, as a case study to analyze the role of government for market protection in processes of market-oriented rural land circulation, combined with the survey data in rural areas of Chengdu since 2004. Successful experience in Chengdu city shows that, on one hand, market building of rural land circulation is inseparable from the government's participation; on the other hand, the relationship between market forces and intervention of public power should be properly handled, and rationally define the government's behavior in the market boundary so as to construct service-oriented government.