Land Rental Markets in the Process of Rural Structural Transformation: Productivity and Equity Impacts from China
Although the importance of land rental for overall economic development and development of the non-agricultural economy has long been recognized in theory, empirical evidence on factors that can promote or impede operation of such markets and their productivity and equity impacts, especially in rapidly developing economies with rather equal land endowments, remains limited. A large household level panel is used to illustrate the large contribution of land markets to occupational diversification, productivity of land use, and household welfare.