Designing Property Rights of Land in Rural China

61 Pages Posted: 23 Mar 2015 Last revised: 2 Oct 2017

See all articles by Yuk-Shing Cheng

Yuk-Shing Cheng

Hong Kong Baptist University (HKBU) – Department of Accountancy and Law - Department of Economics

Kim-Sau Chung

Hong Kong Baptist University (HKBU)

Date Written: August 9, 2017

Abstract

This paper takes the special features of land seriously, and study the efficient design of its property rights against the backdrop of social security. In particular, we explain why (i) tenure insecurity and (ii) restrictions on the right to transfer, two features that are often frown upon by economists, can play a positive role in an efficient design of property rights of land in rural China. Our model does reasonably well in matching the variation (across both time and regions) of China’s rural land system: tenure is more insecure and restrictions on the right to transfer more severe in inland regions (vis-a-vis coastal regions) and at earlier stages of the reform.

Suggested Citation

Cheng, Yuk-Shing and Chung, Kim-Sau, Designing Property Rights of Land in Rural China (August 9, 2017). Available at SSRN: https://ssrn.com/abstract=2583372 or http://dx.doi.org/10.2139/ssrn.2583372

Yuk-Shing Cheng

Hong Kong Baptist University (HKBU) – Department of Accountancy and Law - Department of Economics ( email )

Hong Kong

Kim-Sau Chung (Contact Author)

Hong Kong Baptist University (HKBU) ( email )

Department of Economics
Kowloon, Hong Kong
Hong Kong

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