The potential of land rental markets in the process of economic development: Evidence from China

• 成果类型: Article
• 署名作者: Deininger, K; Jin, SQ
• 署名单位: The World Bank
• 刊物名称: JOURNAL OF DEVELOPMENT ECONOMICS
• ISSN/ISSBN: 0304-3878
• DOI: 10.1016/j.jdeveco.2004.08.002
• 发表日期: 2005
• 页码: 241-270
• 关键词: Property rights; Land markets; PRODUCTIVITY; Economic development; poverty; CHINA

摘要

We develop a model of land leasing with agents characterized by unobserved heterogeneity in ability and presence of an off-farm labor market. In this case, decentralized land rental may contribute to equity and efficiency goals and may have several advantages over administrative reallocation. The extent to which this is true empirically is explored using data from three of China's poorest provinces. Land rental markets and administrative reallocation reallocate land to those with lower endowments but the former are more effective in doing so and have a bigger productivity-enhancing effect. Information on hypothetical market participation suggests that reducing transaction costs in land rental markets could help to realize significant additional productivity gains. (c) 2005 Elsevier B.V. All rights reserved.