Land and the transition from a dual to a modem economy

• 成果类型: Article
• 署名作者: Proto, Eugenio
• 署名单位: University of Warwick
• 刊物名称: JOURNAL OF DEVELOPMENT ECONOMICS
• ISSN/ISSBN: 0304-3878
• DOI: 10.1016/j.jdeveco.2005.11.004
• 发表日期: 2007
• 页码: 88-108
• 关键词: tenurial contracts; Land reform; education; imperfect credit markets; migration

摘要

Tenurial contracts in agriculture can be an initial source of wealth accumulation for dynasties of poor, credit-constrained individuals. The income from such contracts can be invested in education of offspring, who then can find work in the formal manufacturing sector. This process allows the economy to develop into a modem economy with a large manufacturing sector. An excessive number of poor individuals competing for scarce land, however, drives up the rental price of land, which then slows the process of accumulation and forces the economy to converge to a less efficient dual equilibrium. In such cases, a policy of land redistribution coupled with a temporary education subsidy may be needed to push the economy to a modem equilibrium. (C) 2005 Elsevier B.V. All rights reserved.