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Land markets and agrarian backwardness (Spain, 1904-1934)

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  • Juan Carmona
  • Joan R. Rosés

Abstract

To what extent were land markets the cause of Spanish agrarian backwardness? To address this unresolved issue, this paper uses new provincial data on average real land prices, together with a province-level variation in land productivity, to analyze the efficiency of land markets. Specifically, we test, first, whether land markets were spatially integrated and, secondly, whether land prices can be explained with the present value model. Our results suggest that land prices converged across provinces and that their variations were driven by market fundamentals. In consequence, we conclude that the institutional failure in land markets was not the cause of the relatively poor productivity performance of Spanish agriculture. Copyright , Oxford University Press.

Suggested Citation

  • Juan Carmona & Joan R. Rosés, 2012. "Land markets and agrarian backwardness (Spain, 1904-1934)," European Review of Economic History, European Historical Economics Society, vol. 16(1), pages 74-96, February.
    • Handle: RePEc:oup:ereveh:v:16:y:2012:i:1:p:74-96
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    File URL: http://hdl.handle.net/10.1093/ereh/her001
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    Citations

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    Cited by:

    1. Aaron Grau & Martin Odening & Matthias Ritter, 2020. "Land price diffusion across borders – the case of Germany," Applied Economics, Taylor & Francis Journals, vol. 52(50), pages 5446-5463, October.
    2. Basco, Sergi & Domènech, Jordi & Rosés, Joan R., 2021. "The redistributive effects of pandemics: Evidence on the Spanish flu," World Development, Elsevier, vol. 141(C).
    3. Samuel Garrido, 2017. "The fruit of inequality: wine, efficiency, agrarian contracts and property rights in Catalonia (1898-1935)," Documentos de Trabajo (DT-AEHE) 1701, Asociación Española de Historia Económica.
    4. Xinyue Yang & Martin Odening & Matthias Ritter, 2019. "The Spatial and Temporal Diffusion of Agricultural Land Prices," Land Economics, University of Wisconsin Press, vol. 95(1), pages 108-123.
    5. Juan Carmona & Markus Lampe & Joan Rosés, 2017. "Housing affordability during the urban transition in Spain," Economic History Review, Economic History Society, vol. 70(2), pages 632-658, May.
    6. Pablo Martinelli, 2014. "Editor's choice Von Thünen south of the Alps: access to markets and interwar Italian agriculture," European Review of Economic History, European Historical Economics Society, vol. 18(2), pages 107-143.
    7. Basco, Sergi & Domènech, Jordi & Rosés, Joan R., 2021. "The redistributive effects of pandemics: Evidence on the Spanish flu," World Development, Elsevier, vol. 141(C).
    8. Roses, Joan R., 2015. "Spanish land reform in the 1930s: economic necessity or political opportunism?," LSE Research Online Documents on Economics 64498, London School of Economics and Political Science, LSE Library.
    9. Gornig, Martin & Werwatz, Axel, 2019. "The potential for industrial activity among EU regions: An empirical analysis at the NUTS2 level," FORLand Working Papers 13 (2019), Humboldt University Berlin, DFG Research Unit 2569 FORLand "Agricultural Land Markets – Efficiency and Regulation".
    10. Martinelli, Pablo, 2014. "Latifundia revisited: Market power, land inequality and agricultural efficiency. Evidence from interwar Italian agriculture," Explorations in Economic History, Elsevier, vol. 54(C), pages 79-106.
    11. Juan Carmona Pidal & Markus Lampe & Joan Ramón Rosés, 2012. "Housing Markets during the Rural-Urban Transition: Evidence from early 20th Century Spain," Working Papers 0030, European Historical Economics Society (EHES).
    12. Grau, Aaron & Jasic, Svetlana & Ritter, Matthias & Odening, Martin, 2019. "The impact of production intensity on agricultural land prices," FORLand Working Papers 09 (2019), Humboldt University Berlin, DFG Research Unit 2569 FORLand "Agricultural Land Markets – Efficiency and Regulation".
    13. Emiliano Travieso, 2023. "Soils, scale, or elites? Biological innovation in Uruguayan cattle farming, 1880–1913," Economic History Review, Economic History Society, vol. 76(2), pages 498-524, May.
    14. Emma Bruno & Rosalia Castellano & Gennaro Punzo & Luca Salvati, 2023. "Towards diverging land prices in agricultural districts? Evidence from Italy before and after the great crisis," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 69(3), pages 119-127.
    15. Mateusz Tomal & Agata Gumieniak, 2020. "Agricultural Land Price Convergence: Evidence from Polish Provinces," Agriculture, MDPI, vol. 10(5), pages 1-20, May.

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