Although opinions on impacts of land market transfers are sharply divided, few studies explore the welfare- and productivity impact of land markets on a larger scale. We use a large Indian panel spanning almost 20 years, together with a climatic shock (rainfall) indicator, to assess the productivity- and equity-impact of market-mediated land transfers (sale and purchase) as compared to non-market ones (inheritance). While frequent shocks increase land market activity, an effect that is mitigated by presence of safety nets and banks- land sales markets improved productivity and helped purchasers, many of them formerly landless, to accumulate non-land assets and significantly enhance their welfare.
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Length: Date of creation: 2007 Date of revision: Handle: RePEc:ags:aaea07:9824
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