Analyzing Land Readjustment 评价人数不足
读书笔记 Assembling Land for Urban Development

Propositions of this book:

(1) strong private property protection heightens fiscal and administrative incentives for government to use land readjustment to assemble land.
(2) to assist the organizing of instigated property exchanges, there should be a special land readjustment (or related) law to minimize the free-rider problem.
(3) trust relations can facilitate cooperation between involved parties in land readjustment; yet, if these relations are broken or do not exist, land readjustment agencies will have to depend on law and coercion to force property transfers.
(4) Land readjustment project can be self-financing only if the responsible agency can resolve the inherent tradeoff between encouraging property owner's participation by reducing their land contributions to the project and recovering the full costs of local infrastructure by reserving more land for public uses and sale.

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