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Land Tenure Reforms and Land Conservation Investments in China - A Theoretical Analysis

机译:中国土地保有权改革与土地保护投资-理论分析

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Using real option value theory, we investigate r the impact of the recent land tenure reforms aimed r at improving land tenure security and transferability in r rural China on land conservation investments. We find that r investments in land conservation triggered by the land reforms may r occur only after a time lag, but provide indirect r economic benefits through an increase in the real option value. r Moreover, the reforms are more likely to elicit land conservation r investments in areas where formal rather than informal land r transactions dominate.
机译:使用实物期权价值理论,我们研究了旨在改善中国农村土地使用权安全性和可转让性的最近土地使用权改革对土地保护投资的影响。我们发现,由土地改革引发的对土地保护的投资可能仅在一段时间之后发生,但通过增加实物期权价值可以间接提供经济利益。此外,这些改革更有可能在正式而非非正式土地交易占主导地位的地区引发土地保护投资。

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