USUFRUCT AND USURY: AN ANALYSIS OF LAND LEASING IN EAST JAVA

Neil H. Sturgess, Hesti R. Wijaya and N. Dow

Australian Journal of Agricultural Economics, 1984, vol. 28, issue 01, 28

Abstract: On Java, land leasing functions as a credit instrument when the entire rent is paid in advance. The rights obtained by the tenant/lender are the 'price' of the loan made to the land owner/borrower. A model of such transactions shows that the area leased and duration of the lease are substitutes in raising a loan of given size and that the substitution rate is related to the term structure of interest rates.

Keywords: Land; Economics/Use (search for similar items in EconPapers)
Date: 1984
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Persistent link: https://EconPapers.repec.org/RePEc:ags:ajaeau:22594

DOI: 10.22004/ag.econ.22594

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