Staff Publications

Staff Publications

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    'Staff publications' is the digital repository of Wageningen University & Research

    'Staff publications' contains references to publications authored by Wageningen University staff from 1976 onward.

    Publications authored by the staff of the Research Institutes are available from 1995 onwards.

    Full text documents are added when available. The database is updated daily and currently holds about 240,000 items, of which 72,000 in open access.

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Record number 445673
Title Land tenure reforms and land conservation investments in China – what does real option value theory tell us?
Author(s) Ma Xian lei, Xianlei; Wesseler, J.H.H.; Heerink, N.; Qu, F.
Source Review of Economics & Finance 3 (2013)3. - ISSN 1923-7529 - p. 19 - 33.
Department(s) Environmental Economics and Natural Resources Group
Agricultural Economics and Rural Policy Group
Development Economics Group
Publication type Refereed Article in a scientific journal
Publication year 2013
Abstract Land conservation investments can make an important contribution to avoidance and mitigation of land degradation. Lack of tenure security and land transferability may, however, limit the extent to which farmers undertake such investments. Using real option value theory, this paper investigates the expected impact of the market-oriented tenure reforms in China since 1998 on land conservation investment incentives. It postulates that the reforms are more likely to elicit land conservation investments in areas where land markets are developing. This paper further argues benefits of the land tenure reforms will be underestimated if only the intrinsic but not the time value of changes in the investment incentives will be considered. The findings obtained from this research provide a better understanding of the relationship between the land tenure reforms and land conservation investments, and are likely to serve sustainable land management in China and elsewhere.
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