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Does tenure review in New Zealand’s South Island give rise to rents?

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    Under “tenure review,” the ongoing privatization of South Island Crown pastoral leases, a pastoral lessee surrenders part of his leasehold, and acquires a freehold interest in the remainder. In order to determine whether the Crown sold the right to freehold too cheaply, we model the proportional difference between the price (per hectare) at which the Crown sold its interest to the lessee, and the prices paid to former lessees who have onsold some part of their new freeholds.

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    File URL: http://www.econ.canterbury.ac.nz/RePEc/cbt/econwp/1049.pdf
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    Paper provided by University of Canterbury, Department of Economics and Finance in its series Working Papers in Economics with number 10/49.

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    Length: 7 pages
    Date of creation: 01 Aug 2010
    Date of revision:
    Handle: RePEc:cbt:econwp:10/49
    Contact details of provider: Postal: Private Bag 4800, Christchurch, New Zealand
    Phone: 64 3 369 3123 (Administrator)
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    Web page: http://www.econ.canterbury.ac.nz

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