@article{2d3ba73512384d77b0f9f44b5cf106e0,
title = "Designing Property Rights over Land in Rural China",
abstract = "After nearly four decades, China's rural land tenure arrangement remains by and large how it looked like at the beginning of the economic reform. Rural land remains collectively owned. Peasants contract land from collectives, with their tenure insecure, and their transfer rights restricted. If such an arrangement was deemed a historical legacy at the beginning of the reform, it now looks more and more like a constrained efficient design by historical accident. This article suggests the constraints against which this design may be constrained efficient, and provides a stylised model that matches a wide array of empirical patterns.",
author = "CHENG, {Yuk Shing} and CHUNG, {Kim Sau}",
note = "Funding Information: We are extremely grateful to the editor and two anonymous referees, who helped us to improve our exposition substantially. We also thank Jiahua Che, Rongzhu Ke, Li Han, Lixing Li, Chia-hui Lu, Shitong Qiao, Liugang Sheng, Shangjin Wei, Funing Zhong, Li-An Zhou, Xiaodong Zhu, and the audience at various conferences and seminars for helpful discussion. Juan Chen, Tianyu Gao, Tsz Hong Lee, Yunyun Lu, Kam Pui Tsang, and Jufan Yang provided excellent research assistance. All errors are ours. The work described in this article was supported by grants from Hong Kong Baptist University (FRG1/13-14/023) and from Research Grant Council of Hong Kong Special Administrative Region Government (GRF 14500514).",
year = "2018",
month = nov,
doi = "10.1111/ecoj.12552",
language = "English",
volume = "128",
pages = "2676--2710",
journal = "Economic Journal",
issn = "0013-0133",
publisher = "Wiley-Blackwell",
number = "615",
}