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Comprehensive Agrarian Reform Program and the Coase Theorem

Author

Listed:
  • Raul V. Fabella

    (School of Economics, University of the Philippines Diliman)

Abstract

The prohibition of the sale or usufruct of land under the Comprehensive Agrarian Reform Law has, in effect, destroyed the legal land market and, in its wake, the legal rural credit market. These markets have gone underground resulting in very high transaction cost and bankruptcy to farmers. Section 27 of CARL contravenes a beautiful results in Economics called the Coase Theorem. Reforms suggested are analyzed in the light of this theorem.

Suggested Citation

  • Raul V. Fabella, 2003. "Comprehensive Agrarian Reform Program and the Coase Theorem," UP School of Economics Discussion Papers 200302, University of the Philippines School of Economics.
    • Handle: RePEc:phs:dpaper:200302
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    File URL: http://www.econ.upd.edu.ph/dp/index.php/dp/article/view/105/99
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    Cited by:

    1. Prince Christian Cruz, 2014. "The Spanish Origins of Extractive Institutions in the Philippines," Australian Economic History Review, Economic History Society of Australia and New Zealand, vol. 54(1), pages 62-82, March.
    2. World Bank, 2007. "India - Land Policies for Growth and Poverty Reduction," World Bank Publications - Reports 7818, The World Bank Group.
    3. World Bank, 2007. "India : Land Policies for Growth and Poverty Reduction," World Bank Publications - Books, The World Bank Group, number 15791, December.
    4. Deininger, Klaus & Hilhorst, Thea & Songwe, Vera, 2014. "Identifying and addressing land governance constraints to support intensification and land market operation: Evidence from 10 African countries," Food Policy, Elsevier, vol. 48(C), pages 76-87.
    5. 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.
    6. Dy, Kenneth Bicol & Chau, Kwong Wing, 2023. "Compulsory land redistribution from the perspective of the theory of price control," Land Use Policy, Elsevier, vol. 131(C).
    7. Toby C. Monsod & Sharon A. Piza, 2014. "Time to let go of CARP? Not so fast," UP School of Economics Discussion Papers 201403, University of the Philippines School of Economics.

    More about this item

    JEL classification:

    • O12 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development
    • P48 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies
    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights

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