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Permanent Labour and Land Tenancy Contracts in Agrarian Economies: An Integrated Analysis

Extending the existing models of land and labor contracts, this study attempts to build a general model of long-term agrarian contracts. The model implies that, where tenancy is an available option, the fixed-wage permanent labor contract will not b e chosen. If it is chosen under institutional constraints on tenancy contracts, resulting resource allocations will be inefficient. Empirical relevance of the model is tested on data from the Philippines. Copyright 1993 by The London School of Economics and Political Science.