Land and the transition from a dual to a modern economy |
| |
| Institution: | 2. Dean and Professor, School of Nursing, Samuel Merritt University, 3100 Telegraph Ave., Oakland, CA, 94609.;3. Associate Professor, School of Nursing and Health Professions, University of San Francisco, San Francisco, CA, 94117.;4. Program Director, California Institute for Nursing & Health Care, 663 13th Street Suite 300, Oakland, CA, 94612.;1. Business School, Beijing Normal University, Beijing 100875, China;2. School of Economics, Nanjing University of Finance and Economics, Jiangsu Province 210023, China;3. School of International Business, Southwestern University of Finance and Economics, Sichuan 611130, China;4. Antai College of Economics & Management, Shanghai Jiao Tong University, Shanghai 200052, China;1. Department of Health Policy and Management, Johns Hopkins Center for Injury Research and Policy, Johns Hopkins Bloomberg School of Public Health, Baltimore, MD 21205, USA;2. Department of Chicana and Chicano Studies, California State University, Fullerton, 800 N. State College Blvd., Fullerton, CA 92832, USA;3. University of Maryland School of Medicine, Departments of Pediatrics and Epidemiology and Public Health, 737 West Lombard Street, Room 163, Baltimore, MD 21201, USA;4. University of California, San Diego, Mail Code 0824, 3900 Fifth Avenue, Suite 310, San Diego, CA 92103, USA |
| |
| Abstract: | Tenurial contracts in agriculture can be an initial source of wealth accumulation for dynasties of poor, credit-constrained individuals. The income from such contracts can be invested in education of offspring, who then can find work in the formal manufacturing sector. This process allows the economy to develop into a modern economy with a large manufacturing sector. An excessive number of poor individuals competing for scarce land, however, drives up the rental price of land, which then slows the process of accumulation and forces the economy to converge to a less efficient dual equilibrium. In such cases, a policy of land redistribution coupled with a temporary education subsidy may be needed to push the economy to a modern equilibrium. |
| |
| Keywords: | |
| 本文献已被 ScienceDirect 等数据库收录！ |
|
