Development of land rental markets in rural Zhejiang: Growth of off-farm jobs and institution building
We employ survey data collected in 2001 in Zhejiang province to investigate patterns and determinants of land market development. Previous studies have noted the correlation between growth of off-farm jobs and rental-market development at the aggregate level, but failed empirically to demonstrate me...
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sg-smu-ink.soss_research-12752020-11-03T05:17:15Z Development of land rental markets in rural Zhejiang: Growth of off-farm jobs and institution building ZHANG, Qian Forrest MA, Qingguo XU, Xu We employ survey data collected in 2001 in Zhejiang province to investigate patterns and determinants of land market development. Previous studies have noted the correlation between growth of off-farm jobs and rental-market development at the aggregate level, but failed empirically to demonstrate mechanisms at the disaggregate level. Our analyses find concrete evidence at the household level connecting developments in labour and land markets. Growth in off-farm jobs allow rural households to transfer labour out of farming and prompt them to relinquish land rights, generating a supply of land that drives rental activities. We also go beyond interactions between factor markets and examine how local institution building promotes rental-market development. Institutions that either lower transaction costs or secure property rights are found to be crucial in explaining cross-regional variations in rental-market development. Finally, the rise of land rental markets also highlights the role of collective ownership in shaping rural development trajectory. 2004-12-01T08:00:00Z text application/pdf https://ink.library.smu.edu.sg/soss_research/276 info:doi/10.1017/s0305741004000748 https://ink.library.smu.edu.sg/context/soss_research/article/1275/viewcontent/Development_of_Land_Rental_Markets_in_Rural_Zhejiang.pdf http://creativecommons.org/licenses/by-nc-nd/4.0/ Research Collection School of Social Sciences eng Institutional Knowledge at Singapore Management University Agricultural and Resource Economics Asian Studies |
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Agricultural and Resource Economics Asian Studies ZHANG, Qian Forrest MA, Qingguo XU, Xu Development of land rental markets in rural Zhejiang: Growth of off-farm jobs and institution building |
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We employ survey data collected in 2001 in Zhejiang province to investigate patterns and determinants of land market development. Previous studies have noted the correlation between growth of off-farm jobs and rental-market development at the aggregate level, but failed empirically to demonstrate mechanisms at the disaggregate level. Our analyses find concrete evidence at the household level connecting developments in labour and land markets. Growth in off-farm jobs allow rural households to transfer labour out of farming and prompt them to relinquish land rights, generating a supply of land that drives rental activities. We also go beyond interactions between factor markets and examine how local institution building promotes rental-market development. Institutions that either lower transaction costs or secure property rights are found to be crucial in explaining cross-regional variations in rental-market development. Finally, the rise of land rental markets also highlights the role of collective ownership in shaping rural development trajectory. |
format |
text |
author |
ZHANG, Qian Forrest MA, Qingguo XU, Xu |
author_facet |
ZHANG, Qian Forrest MA, Qingguo XU, Xu |
author_sort |
ZHANG, Qian Forrest |
title |
Development of land rental markets in rural Zhejiang: Growth of off-farm jobs and institution building |
title_short |
Development of land rental markets in rural Zhejiang: Growth of off-farm jobs and institution building |
title_full |
Development of land rental markets in rural Zhejiang: Growth of off-farm jobs and institution building |
title_fullStr |
Development of land rental markets in rural Zhejiang: Growth of off-farm jobs and institution building |
title_full_unstemmed |
Development of land rental markets in rural Zhejiang: Growth of off-farm jobs and institution building |
title_sort |
development of land rental markets in rural zhejiang: growth of off-farm jobs and institution building |
publisher |
Institutional Knowledge at Singapore Management University |
publishDate |
2004 |
url |
https://ink.library.smu.edu.sg/soss_research/276 https://ink.library.smu.edu.sg/context/soss_research/article/1275/viewcontent/Development_of_Land_Rental_Markets_in_Rural_Zhejiang.pdf |
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