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Determinants and consequences of land sales market participation : panel evidence from India

  • Deininger, Klaus
  • Jin, Songqing
  • Nagarajan, Hari K.

Although opinions on impacts of land market transfers are sharply divided, few studies explore the welfare and productivity effects of land markets on a larger scale. This paper uses a large Indian panel spanning almost 20 years, together with a climatic shock (rainfall) indicator, to assess the productivity and equity effects of market-mediated land transfers (sale and purchase) compared with non-market ones (inheritance). The analysis shows that frequent shocks increase land market activity, an effect that is mitigated by the presence of safety nets and banks. Land sales markets improved productivity and helped purchasers, many of whom were formerly landless, to accumulate non-land assets and significantly enhance their welfare.

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Paper provided by The World Bank in its series Policy Research Working Paper Series with number 4323.

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Date of creation: 01 Aug 2007
Date of revision:
Handle: RePEc:wbk:wbrwps:4323
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  1. Tim J. Coelli, 1995. "Recent Developments In Frontier Modelling And Efficiency Measurement," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 39(3), pages 219-245, December.
  2. Jayne, Thomas S. & Yamano, Takashi & Weber, Michael T. & Tschirley, David L. & Benfica, Rui M.S. & Neven, David & Chapoto, Antony & Zulu, Ballard, 2002. "Smallholder Income And Land Distribution In Africa: Implications For Poverty Reduction Strategies," 2002 Annual meeting, July 28-31, Long Beach, CA 19692, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
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  6. Baland, Jean-Marie & Gaspart, Frederic & Platteau, Jean-Philippe & Place, Frank, 2007. "The Distributive Impact of Land Markets in Uganda," Economic Development and Cultural Change, University of Chicago Press, vol. 55(2), pages 283-311, January.
  7. Rawal, Vikas, 2001. "Agrarian Reform and Land Markets: A Study of Land Transactions in Two Villages of West Bengal, 1977-1995," Economic Development and Cultural Change, University of Chicago Press, vol. 49(3), pages 611-29, April.
  8. Fafchamps, Marcel & Udry, Christopher & Czukas, Katherine, 1998. "Drought and saving in West Africa: are livestock a buffer stock?," Journal of Development Economics, Elsevier, vol. 55(2), pages 273-305, April.
  9. Rosenzweig, Mark R & Wolpin, Kenneth I, 1993. "Credit Market Constraints, Consumption Smoothing, and the Accumulation of Durable Production Assets in Low-Income Countries: Investment in Bullocks in India," Journal of Political Economy, University of Chicago Press, vol. 101(2), pages 223-44, April.
  10. Angus Deaton, 1989. "Saving and Liquidity Constraints," NBER Working Papers 3196, National Bureau of Economic Research, Inc.
  11. Deininger, Klaus & Songqing Jin, 2003. "Land sales and rental markets in transition - evidence from rural Viet Nam," Policy Research Working Paper Series 3013, The World Bank.
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  19. Kailash Sarap, 1995. "Land Sale Transactions in an Indian Village: Theories and Evidence," Indian Economic Review, Department of Economics, Delhi School of Economics, vol. 30(2), pages 223-240, July.
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