Land markets and agrarian backwardness (Spain, 1900)
(2012) In European Review of Economic History 16(1). p.74-96- Abstract
- Abstract in Undetermined
To what extent were land markets the cause of Spanish agrarian backwardness? To address this unresolved issue, this paper uses new provincial data on average real land prices, together with a province-level variation in land productivity, to analyze the efficiency of land markets. Specifically, we test, first, whether land markets were spatially integrated and, secondly, whether land prices can be explained with the present value model. Our results suggest that land prices converged across provinces and that their variations were driven by market fundamentals. In consequence, we conclude that the institutional failure in land markets was not the cause of the relatively poor productivity performance of Spanish... (More) - Abstract in Undetermined
To what extent were land markets the cause of Spanish agrarian backwardness? To address this unresolved issue, this paper uses new provincial data on average real land prices, together with a province-level variation in land productivity, to analyze the efficiency of land markets. Specifically, we test, first, whether land markets were spatially integrated and, secondly, whether land prices can be explained with the present value model. Our results suggest that land prices converged across provinces and that their variations were driven by market fundamentals. In consequence, we conclude that the institutional failure in land markets was not the cause of the relatively poor productivity performance of Spanish agriculture. (Less)
Please use this url to cite or link to this publication:
https://lup.lub.lu.se/record/3469631
- author
- Rosés, Joan LU and Carmona Pidal, Juan
- publishing date
- 2012
- type
- Contribution to journal
- publication status
- published
- subject
- in
- European Review of Economic History
- volume
- 16
- issue
- 1
- pages
- 74 - 96
- publisher
- Oxford University Press
- external identifiers
-
- scopus:84871754646
- ISSN
- 1474-0044
- DOI
- 10.1093/ereh/her001
- language
- English
- LU publication?
- no
- id
- 7ad3cae4-cf2a-4e5e-b53c-4f352c24cbfc (old id 3469631)
- date added to LUP
- 2016-04-01 10:29:16
- date last changed
- 2022-01-25 23:43:04
@article{7ad3cae4-cf2a-4e5e-b53c-4f352c24cbfc,
abstract = {{Abstract in Undetermined<br/>To what extent were land markets the cause of Spanish agrarian backwardness? To address this unresolved issue, this paper uses new provincial data on average real land prices, together with a province-level variation in land productivity, to analyze the efficiency of land markets. Specifically, we test, first, whether land markets were spatially integrated and, secondly, whether land prices can be explained with the present value model. Our results suggest that land prices converged across provinces and that their variations were driven by market fundamentals. In consequence, we conclude that the institutional failure in land markets was not the cause of the relatively poor productivity performance of Spanish agriculture.}},
author = {{Rosés, Joan and Carmona Pidal, Juan}},
issn = {{1474-0044}},
language = {{eng}},
number = {{1}},
pages = {{74--96}},
publisher = {{Oxford University Press}},
series = {{European Review of Economic History}},
title = {{Land markets and agrarian backwardness (Spain, 1900)}},
url = {{http://dx.doi.org/10.1093/ereh/her001}},
doi = {{10.1093/ereh/her001}},
volume = {{16}},
year = {{2012}},
}