Property Rights, Land Misallocation and Agricultural Efficiency in China
研究中国农村产权改革允许农民出租土地的影响，发现改革促进了土地向高生产率农户流转，使农业产出和全要素生产率分别提高8%和10%。
This paper examines the impact of a property rights reform in rural China that allowed farmers to lease out their land. We find the reform led to increases in land rental activity in rural households. Our results indicate that the formalization of leasing rights resulted in a redistribution of land toward more productive farmers. Consequently, output and aggregate productivity increased by 8 and 10%, respectively. We also find that the reform increased the responsiveness of land allocation across crops to changes in crop prices.