Land markets and agrarian backwardness (Spain, 1900)
Abstract in UndeterminedTo 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, wh