Does tenure review in New Zealand’s South Island give rise to rents? (2010)
Type of ContentDiscussion / Working Papers
PublisherCollege of Business and Economics
University of Canterbury. Department of Economics and Finance
Under “tenure review,” the ongoing privatization of South Island Crown pastoral leases, a pastoral lessee surrenders part of his leasehold, and acquires a freehold interest in the remainder. In order to determine whether the Crown sold the right to freehold too cheaply, we model the proportional difference between the price (per hectare) at which the Crown sold its interest to the lessee, and the prices paid to former lessees who have onsold some part of their new freeholds.
CitationBrower, A., Meguire, P. (2010) Does tenure review in New Zealand’s South Island give rise to rents?. Department of Economics and Finance. 7pp..
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Keywordstenure review; pastoral leases; New Zealand; rent seeking
ANZSRC Fields of Research30 - Agricultural, veterinary and food sciences::3002 - Agriculture, land and farm management::300202 - Agricultural land management
38 - Economics::3801 - Applied economics::380101 - Agricultural economics
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