Land Tenure, Investment Incentives, and the Choice of Techniques: Evidence from Nicaragua
利用尼加拉瓜农户数据，研究发现租种地块上种植树木作物的可能性低于自有地块，原因是地主无法或不愿承诺长期租约，而非风险规避或有限责任导致的代理成本。
The choice of cultivation techniques is a key determinant of agricultural productivity and has important consequences for income growth and poverty reduction in developing countries. Household data from Nicaragua are used to show that the choice of cultivation technique depends on farmers' tenure status even when techniques are observable and contractible. In particular, tree crops are less likely to be grown on rented than on owner-cultivated plots. Further evidence indicates that the result follows from landlords' inability or unwillingness to commit to long-term tenancy contracts rather than from agency costs due to risk aversion or limited liability.