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Property Rights, Land Misallocation and Agricultural Efficiency in China

Amalavoyal Chari, Elaine Liu, Shing-Yi Wang and Yongxiang Wang

No 24099, NBER Working Papers from National Bureau of Economic Research, Inc

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.

JEL-codes: Q15 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-tra
Date: 2017-12
Note: DEV
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