How Does China’s New Rural Pension Scheme Affect Agricultural Production?

This study examines the spillover effects of China’s New Rural Pension Scheme (NRPS) implemented in 2009 as a cash transfer program for agricultural production. Based on the data collected by the China Health and Retirement Longitudinal Survey (CHARLS) in four periods (2011, 2013, 2015 and 2018), we employ Seemingly Unrelated Regression to explore