The comprehensive agrarian reform program and Coase theorem

Raul Fabella

Philippine Review of Economics, 2003, vol. 40, issue 1, 109-200

Abstract: The prohibition of the sale or usufruct of land under the Comprehensive Agrarian Reform Law has, in effect, destroyed the legal rural land market and, in its wake, the legal rural credit market. These markets have gone underground resulting in very high transactions cost and threatened bankruptcy to farmers. Section 27 of CARL contravenes an efficiency result in economics called the Coase theorem. Reforms suggested are analyzed in light of this theorem.

Keywords: Agrarian reform; Coase theorem; land markets (search for similar items in EconPapers)
JEL-codes: D23 O12 P48 (search for similar items in EconPapers)
Date: 2003
References: Add references at CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
http://pre.econ.upd.edu.ph/index.php/pre/article/view/18/573 (application/pdf)

Related works:
Working Paper: Comprehensive Agrarian Reform Program and the Coase Theorem (2003)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:phs:prejrn:v:40:y:2003:i:1:p:109-200

Access Statistics for this article

More articles in Philippine Review of Economics from University of the Philippines School of Economics and Philippine Economic Society Contact information at EDIRC.
Bibliographic data for series maintained by HR Rabe ().