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Land markets and agrarian backwardness (Spain, 1900-1936)

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  • Rosés, Joan R.
  • Carmona, Juan

Abstract

To what extent were land markets the cause of Spanish agrarian backwardness? This paper uses new provincial data on average real land prices, together with provincial level variation in land productivity, to analyse land markets efficiency. To address this unresolved issue, we test whether land markets were spatially integrated and whether their prices can be explained with the present value model. Our results suggest that land prices converged across provinces and that variations were driven by fundamentals. In consequence, we conclude that institutional failure in land markets was not the cause of the relatively poor productivity performance of Spanish agriculture

Suggested Citation

  • Rosés, Joan R. & Carmona, Juan, 2009. "Land markets and agrarian backwardness (Spain, 1900-1936)," IFCS - Working Papers in Economic History.WH wp09-02, Universidad Carlos III de Madrid. Instituto Figuerola.
  • Handle: RePEc:cte:whrepe:wp09-02
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    File URL: https://e-archivo.uc3m.es/bitstream/handle/10016/4442/wh0902.pdf?sequence=1
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    Cited by:

    1. Lampe, Markus & Carmona Pidal, Juan Antonio & Rosés, Joan R., 2011. "Spanish housing markets during the first phase of the rural-urban transition process," IFCS - Working Papers in Economic History.WH wp11-08, Universidad Carlos III de Madrid. Instituto Figuerola.
    2. Juan Carmona Pidal & Markus Lampe & Joan Ramón Rosés, 2012. "Housing Markets during the Rural-Urban Transition: Evidence from early 20th Century Spain," Working Papers 0030, European Historical Economics Society (EHES).

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    Keywords

    Land prices determinants;

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