Comprehensive Agrarian Reform Program and the Coase Theorem

Raul Fabella

No 200302, UP School of Economics Discussion Papers from University of the Philippines School of Economics

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

Pages: 10 pages
Date: 2003-03
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Citations: View citations in EconPapers (7)

Published as UPSE Discussion Paper No. 2003-02, March 2003

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Journal Article: The comprehensive agrarian reform program and Coase theorem (2003)
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