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The comprehensive agrarian reform program and Coase theorem

Author

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  • Raul V. Fabella

    () (University of the Philippines School of Economics)

Abstract

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

Suggested Citation

  • Raul V. Fabella, 2003. "The comprehensive agrarian reform program and Coase theorem," Philippine Review of Economics, University of the Philippines School of Economics and Philippine Economic Society, vol. 40(1), pages 109-200, June.
  • Handle: RePEc:phs:prejrn:v:40:y:2003:i:1:p:109-200
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    File URL: http://pre.econ.upd.edu.ph/index.php/pre/article/view/18/573
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    Citations

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    Cited by:

    1. World Bank, 2007. "India - Land Policies for Growth and Poverty Reduction," World Bank Other Operational Studies 7818, The World Bank.
    2. World Bank, 2007. "India : Land Policies for Growth and Poverty Reduction," World Bank Publications, The World Bank, number 15791.
    3. 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.
    4. 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.

    More about this item

    Keywords

    Agrarian reform; Coase theorem; land markets;

    JEL classification:

    • O12 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development
    • P48 - Economic Systems - - Other Economic Systems - - - Political Economy; 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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