Determinants and Consequences of Land Sales Market Participation : Panel Evidence from India

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.

Bibliographic Details

Main Authors:	Deininger, Klaus, Jin, Songqing, Nagarajan, Hari K.
Format:	Policy Research Working Paper biblioteca
Language:	English
Published:	World Bank, Washington, DC 2007-08
Subjects:	ACCESS TO CREDIT, ACCESS TO INFORMATION, AGRARIAN REFORM, AGRARIAN STRUCTURE, ALM, BANKS, BEST USE, BORROWING, BUYER, BUYERS, CAPITAL MARKET, COLLATERAL, COMMODITY, COMMUNITY DEVELOPMENT, COMPETITIVENESS, CONTRIBUTION, CREDIT ACCESS, DIVERSIFICATION, DROUGHT, DROUGHTS, ECONOMIC DEVELOPMENT, ECONOMIC EFFECTS, ECONOMIES IN TRANSITION, EMPLOYMENT, EQUALIZATION, EXPENDITURE, EXPENDITURES, FINANCIAL MARKET, FINANCIAL MARKET DEVELOPMENT, FINANCIAL SUPPORT, HOUSEHOLD INCOME, HOUSEHOLDS, IMPERFECT CREDIT, INCOME, INCOME LEVELS, INCOME SOURCES, INCOMES, INFLATION, INHERITANCE, INSURANCE, LABOR MARKET, LABOR MARKETS, LAND PRICES, LAND REFORM, LAND SALES, LAND SUPPLY, LAND USE, LAND VALUE, LEGISLATION, LIFETIME, LIVING STANDARDS, LOCAL GOVERNMENT, LOW-INCOME, MARKET ACCESS, MARKET DEVELOPMENT, MARKET LIBERALIZATION, MARKET PARTICIPANTS, MARKET RESTRICTIONS, MIGRATION, OTHER ASSETS, POINTS, PRESENT VALUE, PROBABILITY, PRODUCTIVITY, PROFITABILITY, PROPERTY RIGHTS, PURCHASES, PURCHASING, REAL ESTATE, RESOURCE ALLOCATION, RISKY ASSETS, SAFETY NET, SAFETY NETS, SAHEL, SALARY, SALE, SALES, SAVINGS, SAVINGS INSTRUMENTS, SELF EMPLOYMENT, SELF-EMPLOYMENT, SOCIAL WELFARE, SOUTH ASIAN, SUBSTITUTES, TENANTS, TRANSACTION, TRANSACTION COSTS, URBAN DEVELOPMENT, VALUATION, WAGE, WORTH,
Online Access:	http://documents.worldbank.org/curated/en/2007/08/8108816/determinants-consequences-land-sales-market-participation-panel-evidence-india http://hdl.handle.net/10986/7309
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