Land
 
Land and financial misallocation in India
Gilles Duranton , Ejaz Ghani , Arti Grover Goswami , William Kerr
Posted on: 20 Jul 2016

Optimising the allocation of factors of production – land, capital and labour - improves productivity. In India, where evidence suggests land is severely misallocated to inefficient manufacturing firms, access to financing is disproportionately tied to access to land. This column examines the link between the misallocation of land and access to capital through financial markets. A very strong positive correlation emerges between the two, consistent with the fact that land and buildings can provide strong collateral support for accessing finance from the credit market.
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Land in India: Market price vs. fundamental value
Gurbachan Singh
Posted on: 29 Feb 2016
Topics:   Finance , Land
Tags:  

The Real Estate (Regulation and Development) Bill, 2015, is focused on protecting the few home buyers who can afford to buy homes but does not address the issue of high land prices, which is a very serious problem. This column demonstrates that the market prices of land in India are very high compared to fundamental values, and to market prices in developed countries.
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Regulating land markets: The colonial inheritance
Anand Swamy
Posted on: 10 Feb 2016
Topics:   Land

State intervention in markets is usually thought of as a post-independence phenomenon. However, this column demonstrates that extensive State intervention in land and credit transactions can be traced back to policies adopted by the British Raj in India, beginning in the late 19th century.
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How has land acquisition impacted dalits? A case study from Maharashtra
Dhanmanjiri Sathe
Posted on: 17 Dec 2015
Topics:   Caste , Land

Land ownership in Indian villages is inextricably linked to caste, with dalits owing little or no land. Based on a survey in Maharashtra, this column assesses the impact of land acquisition and subsequent development on dalits vis-à-vis non-dalits. The findings suggest that while economic development can make inroads into the caste system, it possibly cannot end casteism in the short run.
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Property rights, household conflict and suicide in India
Siwan Anderson , Garance Genicot
Posted on: 09 Jul 2015
Topics:   Gender , Land

Suicide has become the second leading cause of death among young Indians. This column finds that improved inheritance rights for women are associated with an increase in the incidence of suicide among both men and women in India, particularly men. Strengthened position of women alters negotiations within the household resulting in increased family conflict and intense stress for individuals.
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Land acquisition, industrialisation, and displaced households
Saumik Paul , Vengadeshvaran J. Sarma
Posted on: 01 Jul 2015

Does industrialisation on acquired land benefit those displaced? Evaluating the long-term livelihood effects of the first Special Economic Zone in the state of West Bengal, this column finds that the impact on displaced households is mixed. While they are more likely to be employed in the industrial zone, their returns to education are lower than that of other households.
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Why do insecure rural property rights persist?
Leopoldo Fergusson
Posted on: 18 Sep 2013
Topics:   Land

Poorly specified and weakly enforced property rights over land may reduce productivity in the agricultural sector. This column examines why strong private property rights are not adopted more widely, and offers a theory of the determination of rural property rights institutions.
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The political economies of land acquisition
Sanjoy Chakravorty
Posted on: 17 Oct 2012

India is in the process of reforming the way that land is bought and sold – a source of heated debate as many blame the current laws for unfairly forcing millions from their homes and livelihoods. This column argues that the latest proposals focus on the politics and overlook the economics. As a result, they are in danger of solving one problem by creating another.
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Developing a Land Acquisition Policy for India
Maitreesh Ghatak , Dilip Mookherjee
Posted on: 05 Sep 2012
Topics:   Land

The Land Acquisition Bill is a key piece of legislation under consideration in the Indian Parliament. This column argues that the current policy on compensating landowners, as proposed in the Bill, is misguided and could adversely affect the pace and character of future growth in India. It draws lessons from economic theory as well as the failed land acquisition experience in Singur to propose a workable model for determining appropriate compensation for land acquisition.
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The value of land administration information for financial development
Aparajita Goyal
Posted on: 28 Aug 2012
Topics:   Land , Finance

While the effect of improved property rights on economic development has been extensively studied, the specific relationship between better land administration information and improved credit access is understudied. This column uses evidence to demonstrate that the computerisation of land registries reduces the cost of lending and can result in expanded access to credit for urban borrowers. It lists certain factors that can dilute these positive effects and argues that these need to be managed.
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