Specialization Without Regret: Transfer Rights, Agricultural Productivity, and Investment in an Industrializing Economy

Michael R. Carter · Yang Yao

ม.ค. 1999 · World Bank Publications

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In China, where collectives own farmland but farmers may hold "use rights" to the land, a case can be made for a property rights system with incomplete security of tenure but with strong transfer rights, which permit "specialization without regret"-- so farmers can recoup the value of an investment even if they exit farming.