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  1. Library Resource
    Informes e investigaciones
    Mayo, 2015
    Indonesia, Noruega

    A theory of land market activity is developed for settings where there is uncertainty and private information about the security of land tenure. Land sellers match with buyers in a competitive search environment, and an illiquid land market emerges as a screening mechanism. As a consequence, adverse selection and an insecure system of property rights stifle land market transactions. The implications of the theory are tested using household level data from Indonesia.

  2. Library Resource
    Informes e investigaciones
    Noviembre, 2015
    Brasil, Noruega, Estados Unidos de América

    We examine the consequences of land tenure insecurity on economic growth in Brazil. We use an overlapping generations model with two sectors: an agricultural sector and a manufacturing sector. Land is specific to the agricultural sector and capital goods are specific to the manufacturing sector. Moreover land is a fixed production factor. Saving takes the form of either land or capital goods purchases, and saving composition depends on transaction costs generated by land tenure insecurity.

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