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Property Rights to Land and Agricultural Organization: An Argentina–United States Comparison

Author

Listed:
  • Eric C. Edwards
  • Martin Fiszbein
  • Gary D. Libecap

Abstract

The contributions of Harold Demsetz offer key insights on how property rights and transaction costs shape economic organization. These guide our comparison of agricultural organization in the early 20th century in two comparable regions, the Argentine Pampas and the US Midwest. In the United States, land was distributed in small parcels and actively traded. In the Pampas, land was distributed in large plots, and trade was limited because land was a social and political asset, as well as a commercial one. We analyze why the absence of trade led to persistently larger farms, specialization in ranching, and peculiar tenancy contracts in Argentina relative to the United States. Our empirical analysis, based on county-level data for both regions, shows that geoclimatic factors cannot explain the observed differences in agricultural organization. We discuss implications for long-term economic development in Argentina.

Suggested Citation

  • Eric C. Edwards & Martin Fiszbein & Gary D. Libecap, 2022. "Property Rights to Land and Agricultural Organization: An Argentina–United States Comparison," Journal of Law and Economics, University of Chicago Press, vol. 65(S1), pages 1-33.
    • Handle: RePEc:ucp:jlawec:doi:10.1086/719197
    DOI: 10.1086/719197
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    Cited by:

    1. Charlotte Bartels & Simon Jäger & Natalie Obergruber, 2024. "Long-Term Effects of Equal Sharing: Evidence from Inheritance Rules for Land," The Economic Journal, Royal Economic Society, vol. 134(664), pages 3137-3172.
    2. Leopoldo Fergusson & Javier Mej√≠a & James A. Robinson & Santiago Torres, 2023. "Constitutions and Order: A theory and comparative evidence from Colombia and the United States," Documentos CEDE 20815, Universidad de los Andes, Facultad de Economía, CEDE.

    More about this item

    JEL classification:

    • K11 - Law and Economics - - Basic Areas of Law - - - Property Law
    • L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
    • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
    • N2 - Economic History - - Financial Markets and Institutions
    • N21 - Economic History - - Financial Markets and Institutions - - - U.S.; Canada: Pre-1913
    • N22 - Economic History - - Financial Markets and Institutions - - - U.S.; Canada: 1913-
    • N26 - Economic History - - Financial Markets and Institutions - - - Latin America; Caribbean
    • N5 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries
    • N51 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - U.S.; Canada: Pre-1913
    • N52 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - U.S.; Canada: 1913-
    • N56 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - Latin America; Caribbean

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