Property Rights, Land Prices, and Investment: A Study of the Taiwanese Land Registration System
AbstractTo evade land taxes, most land in Taiwan during the Ching Dynasty (1662-1895) was not registered. When the Japanese started to colonize Taiwan at the turn of the 20th century, a thorough land survey was made, and all surveyed land became registered. This paper studies how this institutional change affected land values and farmers'; investment behavior. We find that land prices increased significantly after property rights became formally defined. Moreover, farmers became more willing to apply green fertilizers and to grow crops that took a long time to produce, such as tangerines.
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Bibliographic InfoArticle provided by Mohr Siebeck, Tübingen in its journal Journal of Institutional and Theoretical Economics.
Volume (Year): 167 (2011)
Issue (Month): 3 (September)
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Web page: http://www.mohr.de/jite
Postal: Mohr Siebeck GmbH & Co. KG, P.O.Box 2040, 72010 Tübingen, Germany
Find related papers by JEL classification:
- K11 - Law and Economics - - Basic Areas of Law - - - Property Law
- N55 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - Asia including Middle East
- Q15 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment
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