Land Rental Markets in the Process of Rural Structural Transformation : Productivity and Equity Impacts in China
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World Bank, Washington, DC
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The importance of land rental for
overall economic development has long been recognized in
theory, yet empirical evidence on the productivity and
equity impacts of such markets and the extent to which they
realize their potential has been scant. Representative data
from China's nine most important agricultural provinces
illustrate the impact of rental markets on households'
economic strategies and welfare, and the productivity of
land use at the plot level. Although there are positive
impacts in each of these dimensions, transaction costs
constrain participation by many producers, thus preventing
rental markets from attaining their full potential. The
paper identifies factors that increase transaction costs and
provides a rough estimate of the productivity and equity
impacts of removing them.
Palabras clave
AGRICULTURAL DEVELOPMENT, AGRICULTURAL ECONOMICS, AGRICULTURAL OUTPUT, AGRICULTURAL PRODUCTION, AGRICULTURAL RESEARCH, AGRICULTURE, ALLOCATION, ASSETS, BARGAINING, BARGAINING POWER, COMPARATIVE ADVANTAGE, COMPARATIVE ECONOMICS, CONTRACTUAL ARRANGEMENTS, DEVELOPMENT ECONOMICS, DISTRIBUTION OF INCOME, DRIVERS, ECONOMETRIC ANALYSIS, ECONOMIC BENEFITS, ECONOMIC GROWTH, ECONOMIC IMPLICATIONS, ECONOMIC SITUATION, ECONOMICS, EMPLOYMENT, EMPLOYMENT OPPORTUNITIES, EQUALIZATION, EQUATIONS, FACTOR MARKETS, FACTORS OF PRODUCTION, FAMILY LABOR, FARM STRUCTURES, FARMERS, FARMS, GENERAL EQUILIBRIUM, GINI COEFFICIENT, INCOME LEVELS, INCOMES, INEFFICIENCY, INFORMATIONAL IMPERFECTIONS, LABOR FORCE, LABOR MARKET, LABOR MARKETS, LABOR MOBILITY, LABOR PRODUCTIVITY, LABOUR, LABOUR MARKETS, LAND REFORM, LAND USE, LEGAL PROVISIONS, LIQUIDITY, LOCAL GOVERNMENT, MANDATES, MARGINAL PRODUCT, MARKET LIBERALIZATION, MARKET OPERATION, MARKETING, MIGRATION, MORAL HAZARD, MOTIVATION, OCCUPATIONS, PER CAPITA INCOME, POLITICAL ECONOMY, PRIVATE PROPERTY, PRIVATE PROPERTY RIGHTS, PRODUCTION FUNCTION, PRODUCTION FUNCTIONS, PRODUCTIVITY, PRODUCTIVITY GROWTH, PRODUCTIVITY INCREASES, PROPERTY RIGHTS, RURAL LABOR, SEARCH COSTS, STRUCTURAL CHANGE, SUB-SAHARAN AFRICA, TRANSACTION COSTS, TRANSACTIONS COSTS, TRANSITION ECONOMY, UNEMPLOYMENT, URBAN DEVELOPMENT, WAGES, WEALTH, WTO