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Incomplete contracts and in...
Incomplete contracts and investment : a study of land tenancy in Pakistan
World Bank, Development Research Group, Rural Development Team [2006]

When contracts are incomplete, relationship-specific investments may be underprovided due to the threat of opportunistic expropriation or holdup. The authors find evidence of such underinvestment on tenanted land in rural Pakistan. Using data from households cultivating multiple plots under different tenure arrangements, they show that land-specific investment is lower on leased plots. This result is robust to the possible effects of asymmetric information in the leasing market. Greater tenure security also increases land-specific investment on leased plots. Moreover, variation in tenure security appears to be driven largely by heterogeneity across landlords, suggesting that reputation may be important in mitigating the holdup problem

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Título:
Incomplete contracts and investment : a study of land tenancy in Pakistan / Hanan G. Jacoby, Ghazala Mansuri
Editorial:
[Washington, D.C.] : World Bank, Development Research Group, Rural Development Team, [2006]
Descripción física:
1 online resource (34 pages)
Mención de serie:
Policy research working paper ; 3826
Bibliografía:
Includes bibliographical references (pages 26-28)
Restricciones de acceso:
Use copy. Restrictions unspecified star. MiAaHDL
Detalles del sistema:
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL
Nota de acción:
digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL
Copyright/Depósito Legal:
68182895 189859717
Materia:
Materia Geográfica:
Pakistán
Autores:
Enlace a formato físico adicional:
Print version: Jacoby, Hanan. Incomplete contracts and investment., [Washington, D.C.] : World Bank, Development Research Group, Rural Development Team, [2006] (OCoLC)64938240
Punto acceso adicional serie-Título:
Policy research working papers ; 3826

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