Permanent Tenancy System in Ming and Qing Dynasties From the Principal-Agent Perspective
During the Ming and Qing Dynasties,the permanent tenancy system prevailed in Jiangnan area of China.This spe-cial land property right system separated the dual ownership of land,namely land skin right and land bone right.This paper ana-lyzes the property right structure of the permanent tenancy system by using the principal-agent theory,and maintains that"when the tenant had the land ownership as an agent and after he hads the land skin right,the efficiency was the best under the con-straints of the optimal incentive contract".That is,the permanent tenancy system provided effective incentives for landlords and tenant farmers,improved the development of agricultural economy,and promoted the equalization of land right distribution to some extent.
permanent tenancyproperty right structuredual ownership
万方数据
维普
