Property rights, labour markets, and efficiency in a transition economy: the case of rural China
研究了华北地区要素市场不完善对农场效率的影响，发现劳动力使用存在显著低效，外部劳动力市场和行政土地调整能缓解但不够，引发对租赁活动和产权形成的思考。
We investigate the consequences of imperfect factor market development for farm efficiency in North China. We estimate the extent to which an inverse relationship in farm productivity can be attributed to the administrative (as opposed to market) allocation of land, combined with unevenly developed off–farm opportunities. Using a new household survey, we find considerable inefficiency in the use of labour. This inefficiency is alleviated by external labour markets and, to a limited degree, by administrative reallocations. The reallocations do not go far enough, however, which raises important questions about constraints on rental activity and property rights formation more generally.