In China, farmland property rights characterized by the household-responsibility system (HRS) have been improved since the reform and opening-up. The rights of use, transfer and gain become more stable, authorized and...In China, farmland property rights characterized by the household-responsibility system (HRS) have been improved since the reform and opening-up. The rights of use, transfer and gain become more stable, authorized and complete. This paper firstly analyzes the impact on farmland productivity, which comes from the improvement of farmland property rights. Then, an economet- ric model is built to test the above analysis. It concludes that changes of property rights will affect farmland performance in China. In the end, some policy implications are explored for fur- ther reforms.展开更多
Investments in rural land for agriculture, timber, and other natural resource purposes occur frequently and globally. Fundamental principles of liberty and property found in the United States of America’s (“US”) le...Investments in rural land for agriculture, timber, and other natural resource purposes occur frequently and globally. Fundamental principles of liberty and property found in the United States of America’s (“US”) legal system, from its origins to recent US Supreme Court decisions, continue to positively benefit holders of real estate in the Southern US, through a deep-rooted public policy of supporting private property rights and rural economic development. This stable rule of law enhances the long-term adaptability and sustainability of timberland as an asset class. This article is a commentary. It combines legal research methodology with the observations and conclusions of the authors. Its purpose is to demonstrate that the existence of alienable, documentable ownership, and related property rights create inherent stability and security. These principles form the basis of a culture that is defined by the rule of law and is “open for business.” This business mindset is particularly prevalent in the Southern US.展开更多
文摘In China, farmland property rights characterized by the household-responsibility system (HRS) have been improved since the reform and opening-up. The rights of use, transfer and gain become more stable, authorized and complete. This paper firstly analyzes the impact on farmland productivity, which comes from the improvement of farmland property rights. Then, an economet- ric model is built to test the above analysis. It concludes that changes of property rights will affect farmland performance in China. In the end, some policy implications are explored for fur- ther reforms.
文摘Investments in rural land for agriculture, timber, and other natural resource purposes occur frequently and globally. Fundamental principles of liberty and property found in the United States of America’s (“US”) legal system, from its origins to recent US Supreme Court decisions, continue to positively benefit holders of real estate in the Southern US, through a deep-rooted public policy of supporting private property rights and rural economic development. This stable rule of law enhances the long-term adaptability and sustainability of timberland as an asset class. This article is a commentary. It combines legal research methodology with the observations and conclusions of the authors. Its purpose is to demonstrate that the existence of alienable, documentable ownership, and related property rights create inherent stability and security. These principles form the basis of a culture that is defined by the rule of law and is “open for business.” This business mindset is particularly prevalent in the Southern US.
