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The comprehensive agrarian reform program and Coase theorem

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Author Info

  • Raul V. Fabella

    ()
    (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 rural land market and, in its wake, the legal rural credit market. These markets have gone underground resulting in very high transactions cost and threatened bankruptcy to farmers. Section 27 of CARL contravenes an efficiency result in economics called the Coase theorem. Reforms suggested are analyzed in light of this theorem.

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File URL: http://pre.econ.upd.edu.ph/index.php/pre/article/view/18/573
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Bibliographic Info

Article provided by University of the Philippines School of Economics and Philippine Economic Society in its journal Philippine Review of Economics.

Volume (Year): 40 (2003)
Issue (Month): 1 (June)
Pages: 109-200

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Handle: RePEc:phs:prejrn:v:40:y:2003:i:1:p:109-200

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Postal: Diliman, Quezon City 1101
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Web page: http://www.econ.upd.edu.ph/
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Related research

Keywords: Agrarian reform; Coase theorem; land markets;

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Cited by:
  1. Deininger, Klaus & Jin, Songqing & Yadav, Vandana, 2012. "Does sharecropping affect productivity and long-term investment ? evidence from West Bengal's tenancy reforms," Policy Research Working Paper Series 6293, The World Bank.
  2. World Bank, 2007. "India - Land Policies for Growth and Poverty Reduction," World Bank Other Operational Studies 7818, The World Bank.
  3. World Bank, 2007. "India : Land Policies for Growth and Poverty Reduction," World Bank Publications, The World Bank, number 15791, October.

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