The comprehensive agrarian reform program and Coase theorem

The prohibition of the sale or usufruct of land under the Comprehensive Agrarian Reform Law has, in effect, destroyed the legal rural land market and, in its wake, the legal rural credit market. These markets have gone underground resulting in very high transactions cost and threatened bankruptcy to farmers. Section 27 of CARL contravenes an efficiency result in economics called the Coase theorem. Reforms suggested are analyzed in light of this theorem.

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Year of publication:	2003
Authors:	Fabella, Raul V.
Published in:	Philippine Review of Economics. - School of Economics. - Vol. 40.2003, 1, p. 109-200
Publisher:	School of Economics
Subject:	Agrarian reform \| Coase theorem \| land markets

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Extent:	application/pdf
Type of publication:	Article
Classification:	O12 - Microeconomic Analyses of Economic Development ; P48 - Legal Institutions; Property Rights ; D23 - Organizational Behavior; Transaction Costs; Property Rights
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008672411