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Land markets and agrarian backwardness (Spain, 1900)

Rosés, Joan LU and Carmona Pidal, Juan (2012) In European Review of Economic History 16(1). p.74-96
Abstract (Swedish)
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... (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)
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author
publishing date
type
Contribution to journal
publication status
published
subject
in
European Review of Economic History
volume
16
issue
1
pages
74 - 96
publisher
Cambridge 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
2013-02-15 13:34:16
date last changed
2017-05-07 03:13:16
@article{7ad3cae4-cf2a-4e5e-b53c-4f352c24cbfc,
  abstract     = {<b>Abstract in Undetermined</b><br/><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    = {Cambridge 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},
  volume       = {16},
  year         = {2012},
}