Property Rights, Land Misallocation and Agricultural Efficiency in China / A.V. Chari, Elaine M. Liu, Shing-Yi Wang, Yongxiang Wang.

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Chari, A.V

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Material type: Text

TextSeries: Working Paper Series (National Bureau of Economic Research) ; no. w24099.Publication details: Cambridge, Mass. National Bureau of Economic Research 2017.Description: 1 online resource: illustrations (black and white)Subject(s):

Q15 - Land Ownership and Tenure • Land Reform • Land Use • Irrigation • Agriculture and Environment

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Abstract: This paper examines the impact of a property rights reform in rural China that allowed farmers to lease out their land. We find the reform led to increases in land rental activity in rural households. Consistent with a model of transaction costs in land markets, our results indicate that the formalization of leasing rights resulted in a redistribution of land toward more productive farmers. Consequently, the aggregate productivity of land increased significantly. We also find that the reform increased the responsiveness of land allocation across crops to changes in crop prices.

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Item type	Home library	Collection	Call number	Status	Date due	Barcode	Item holds
Working Paper	Biblioteca Digital	Colección NBER	nber w24099 (Browse shelf(Opens below))	Not For Loan

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December 2017.

This paper examines the impact of a property rights reform in rural China that allowed farmers to lease out their land. We find the reform led to increases in land rental activity in rural households. Consistent with a model of transaction costs in land markets, our results indicate that the formalization of leasing rights resulted in a redistribution of land toward more productive farmers. Consequently, the aggregate productivity of land increased significantly. We also find that the reform increased the responsiveness of land allocation across crops to changes in crop prices.