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Property Rights, Land Prices, and Investment: A Study of the Taiwanese Land Registration System

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  • Hui-wen Koo

Abstract

To 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.

Suggested Citation

  • Hui-wen Koo, 2011. "Property Rights, Land Prices, and Investment: A Study of the Taiwanese Land Registration System," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 167(3), pages 515-535, September.
  • Handle: RePEc:mhr:jinste:urn:sici:0932-4569(201109)167:3_515:prlpai_2.0.tx_2-g
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    References listed on IDEAS

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    1. Brasselle, Anne-Sophie & Gaspart, Frederic & Platteau, Jean-Philippe, 2002. "Land tenure security and investment incentives: puzzling evidence from Burkina Faso," Journal of Development Economics, Elsevier, vol. 67(2), pages 373-418, April.
    2. Alston, Lee J & Libecap, Gary D & Schneider, Robert, 1996. "The Determinants and Impact of Property Rights: Land Titles on the Brazilian Frontier," Journal of Law, Economics, and Organization, Oxford University Press, vol. 12(1), pages 25-61, April.
    3. Besley, Timothy, 1995. "Property Rights and Investment Incentives: Theory and Evidence from Ghana," Journal of Political Economy, University of Chicago Press, vol. 103(5), pages 903-937, October.
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    More about this item

    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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