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Review of Liquidization and Concentration of Farmland in Japan

Author

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  • Arimoto, Yutaka
  • Nakajima, Shinsaku

Abstract

This paper reviews theories, current conditions, and barriers to liquidization and concentration of farmland in Japan and discusses perspectives on further research. We make special effort in introducing theoretical approach to understand institutional barriers to farmland liquidization, such as the farmland law system, compensation for tenants' investment, farmland transaction costs, and the high potential for farmland conversion. Since many of the studies in Japan on this topic are anecdotal or based on case studies, econometric studies from overseas that use detailed data are selectively reviewed for reference. Future studies should consider linkage and complementarities between anecdotal or case studies and quantitative approaches. Quantitative studies that test various hypotheses in debate are required. Use of farm or region level panel data should be useful and effective to take into consideration for identification of causality. Rigorous policy evaluations are also necessary for assessing and improving policies that promote structural adjustment.

Suggested Citation

  • Arimoto, Yutaka & Nakajima, Shinsaku, 2010. "Review of Liquidization and Concentration of Farmland in Japan," Journal of Rural Economics, Agricultural Economics Society of Japan, vol. 82(1).
  • Handle: RePEc:ags:aesjre:164640
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    File URL: http://purl.umn.edu/164640
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    References listed on IDEAS

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    1. Haroon Mumtaz & Özlem Oomen & Jian Wang, 2006. "Exchange rate pass-through into UK import prices," Bank of England working papers 312, Bank of England.
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    3. Jose Manuel Campa & Linda S. Goldberg, 2002. "Exchange rate pass-through into import prices: a macro or micro phenomenon?," Staff Reports 149, Federal Reserve Bank of New York.
    4. Menon, Jayant, 1995. " Exchange Rate Pass-Through," Journal of Economic Surveys, Wiley Blackwell, vol. 9(2), pages 197-231, June.
    5. Johansen, Soren, 1991. "Estimation and Hypothesis Testing of Cointegration Vectors in Gaussian Vector Autoregressive Models," Econometrica, Econometric Society, vol. 59(6), pages 1551-1580, November.
    6. Jonathan McCarthy, 2007. "Pass-Through of Exchange Rates and Import Prices to Domestic Inflation in Some Industrialized Economies," Eastern Economic Journal, Eastern Economic Association, vol. 33(4), pages 511-537, Fall.
    7. Jiawen Yang, 1997. "Exchange Rate Pass-Through In U.S. Manufacturing Industries," The Review of Economics and Statistics, MIT Press, vol. 79(1), pages 95-104, February.
    8. Milton S. Boyd & B. Wade Brorsen, 1988. "Price Asymmetry in the U.S. Pork Marketing Channel," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 10(1), pages 103-109.
    9. Johansen, Soren & Juselius, Katarina, 1990. "Maximum Likelihood Estimation and Inference on Cointegration--With Applications to the Demand for Money," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 52(2), pages 169-210, May.
    10. Ashok Bhundia, 2002. "An Empirical Investigation of Exchange Rate Pass-Through in South Africa," IMF Working Papers 02/165, International Monetary Fund.
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    Citations

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    Cited by:

    1. Takahashi, Daisuke & Honma, Masoyoshi, 2015. "A Reexamination of the Agricultural Adjustment Problem in Japan," 2015 Conference, August 9-14, 2015, Milan, Italy 212592, International Association of Agricultural Economists.
    2. Takahashi, Daisuke, 2012. "Farmland Liquidization and Transaction Costs," Japanese Journal of Rural Economics, Agricultural Economics Society of Japan (AESJ), vol. 14.

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