This paper explores a new compensation standard for use in agricultural land conversion in China during the land-expropriation process, based on the market value definition. Assuming identical bargaining power between the buyer and the seller, efficient and equitable compensation is obtained...

The agricultural trade policies of developing countries have not been much of an issue in international debates because the prevailing view is that most of them tax their agricultural sectors. Nevertheless, it is not clear what type of agricultural trade policy should be followed in the course...