To 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 consider the relative contributions of changing technology and institutions for economic growth through the investigation of a natural experiment in history: the almost simultaneous introduction of the automatic cream separator and the cooperative ownership form in the Danish dairy industry...