Price Adjustment and Land Valuation in the Soviet Agricultural Reform: A View Using Lithuanian Farm Data
Changes in land tenure in the U.S.S.R. require that agricultural producers pay for land use. The current distorted pricing system, plus the absence of functioning land markets, complicate land valuation and slow adoption of new property relations. In a well-functioning market economy, agricultural land would earn its marginal value product in agricultural production. This value can be measured empirically from production data and can serve as an appropriate initial value for users' fees. Copyright 1991 by Oxford University Press.
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Volume (Year): 18 (1991)
Issue (Month): 1 ()
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