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Price formation in land title certificate markets of medieval Japan: The depths of the manorial market economy

Research Project

Project/Area Number 21K18421
Research Category

Grant-in-Aid for Challenging Research (Exploratory)

Allocation TypeMulti-year Fund
Review Section Medium-sized Section 7:Economics, business administration, and related fields
Research InstitutionThe University of Tokyo

Principal Investigator

Nakabayashi Masaki  東京大学, 社会科学研究所, 教授 (60302676)

Co-Investigator(Kenkyū-buntansha) 西谷 正浩  福岡大学, 人文学部, 教授 (80248468)
Project Period (FY) 2021-07-09 – 2024-03-31
Project Status Completed (Fiscal Year 2023)
Budget Amount *help
¥6,110,000 (Direct Cost: ¥4,700,000、Indirect Cost: ¥1,410,000)
Fiscal Year 2023: ¥1,690,000 (Direct Cost: ¥1,300,000、Indirect Cost: ¥390,000)
Fiscal Year 2022: ¥1,690,000 (Direct Cost: ¥1,300,000、Indirect Cost: ¥390,000)
Fiscal Year 2021: ¥2,730,000 (Direct Cost: ¥2,100,000、Indirect Cost: ¥630,000)
Keywords荘園制 / 土地証券 / 加地子 / 加地子還元土地価格 / 法の保護
Outline of Research at the Start

a. 「東寺百合文書」(ウェブ公開http://hyakugo.kyoto.jp/)に収められている農地1筆毎の加地子額と売券価格を悉皆入力し、1筆毎、2~4世紀間の超長期パネルデータを構築する。
b. 加地子(資本)還元から得られる理論価格と実勢価格の系列によって仮説1を検証し、農地固定効果を制御しつつ仮説2を検証する。農地固定効果を制御しつつ、差の差分析によって仮説3を検証する。長期にわたる大規模経営の系列であるので幕府法施行の地域的差異を識別に利用する。在地領主台頭の効果はstructural break modelによっても検出する。

Outline of Final Research Achievements

Under the manorial system in medieval times, claims of landlords who were responsible for management of farming were actively traded. While it has been known that the landlords' claims prices, or land oprices, varied, the causes of of the variances have not been addressed. We hypothesized that the landlords' claims depended on "additional return on land (kajishi)" that accrued to landlords, and constructed a database. Statistical analyses of the database revealed that prices of landlords' claims were indeed statistically significantly positively correlated with land prices. We next studied the relationship between land taxes paid to manorial lords and returns earned by landlords and found that manorial lords' land taxes and landlords' returns were statistically significantly negatively correlated.

Academic Significance and Societal Importance of the Research Achievements

私たちは、中世荘園制における地価を、地主の投資収益である加地子によって説明できるとする仮説を実証すべく、データベースを構築、分析し、その仮説を統計的に有意に支持する結果を得た。一方、荘園領主が収取する年貢と、地主が収取する加地子との間には、統計的に有意な負の相関関係があることが判明した。すなわち、中世荘園制において、荘園領主と地主は分配をめぐってゼロサムの関係にあった。中世の農地価格は、農業生産性の向上による加地子の上昇だけでなく、生産性上昇分を荘園領主と在地の地主のどちらが稼得するのかにも依存していたことが予測される。中世の農地市場に客観的な分析基準を適用することに成功したと言えよう。

Report

(4 results)
  • 2023 Annual Research Report   Final Research Report ( PDF )
  • 2022 Research-status Report
  • 2021 Research-status Report
  • Research Products

    (24 results)

All 2024 2023 2022 2021

All Journal Article (11 results) (of which Int'l Joint Research: 2 results,  Peer Reviewed: 9 results,  Open Access: 10 results) Presentation (11 results) (of which Int'l Joint Research: 8 results) Book (2 results)

  • [Journal Article] Factions and the Redistributive Effects of Reform in Japan2024

    • Author(s)
      Matthew M Carlson, Masaki Nakabayashi
    • Journal Title

      Political Studies Review

      Volume: - Issue: 4 Pages: 948-966

    • DOI

      10.1177/14789299231220538

    • Related Report
      2023 Annual Research Report
    • Peer Reviewed / Open Access / Int'l Joint Research
  • [Journal Article] Vertical separation revisited2023

    • Author(s)
      MASAKI NAKABAYASHI
    • Journal Title

      The Singapore Economic Review

      Volume: - Issue: 08 Pages: 1-17

    • DOI

      10.1142/s0217590823500467

    • Related Report
      2023 Annual Research Report
    • Peer Reviewed / Open Access
  • [Journal Article] Narrative Premiums in Policy Persuasion2023

    • Author(s)
      Keisuke Kawata, Kenneth Mori McElwain, Masaki Nakabayashi
    • Journal Title

      Political Psychology

      Volume: 45(2) Issue: 2 Pages: 383-405

    • DOI

      10.1111/pops.12928

    • Related Report
      2023 Annual Research Report
    • Peer Reviewed / Open Access
  • [Journal Article] Updated beliefs and shaken confidence: evidence from vaccine hesitancy caused by experiencing “COVID arm”2023

    • Author(s)
      Fukai Taiyo、Kawata Keisuke、Nakabayashi Masaki
    • Journal Title

      BMC Infectious Diseases

      Volume: 23 Issue: 1 Pages: 612-612

    • DOI

      10.1186/s12879-023-08558-5

    • Related Report
      2023 Annual Research Report
    • Peer Reviewed / Open Access
  • [Journal Article] Legacy of the Czar: Complementarity between education and work in Russia2023

    • Author(s)
      Aigerim Zhangaliyeva , Masaki Nakabayashi
    • Journal Title

      Journal of Applied Economics

      Volume: 26 Issue: 1

    • DOI

      10.1080/15140326.2023.2230623

    • Related Report
      2023 Annual Research Report
    • Peer Reviewed / Open Access
  • [Journal Article] Persistent mind: The effects of information provision on policy preferences2023

    • Author(s)
      Keisuke Kawata , Masaki Nakabayashi
    • Journal Title

      Journal of Policy Modeling

      Volume: 45 Issue: 3 Pages: 522-537

    • DOI

      10.1016/j.jpolmod.2023.05.002

    • Related Report
      2023 Annual Research Report
    • Peer Reviewed / Open Access
  • [Journal Article] 紀伊国阿弖河荘の本家・本所・預所2023

    • Author(s)
      西谷正浩
    • Journal Title

      福岡大学人文論叢

      Volume: 55巻2号 Pages: 389-428

    • Related Report
      2023 Annual Research Report
    • Open Access
  • [Journal Article] 紀伊国阿弖河荘の文永・建治の相論2023

    • Author(s)
      西谷正浩
    • Journal Title

      福岡大学人文論叢

      Volume: 55巻3号 Pages: 723-775

    • Related Report
      2023 Annual Research Report
    • Open Access
  • [Journal Article] 中世の農業と土地制度2023

    • Author(s)
      西谷正浩
    • Journal Title

      社会経済史学

      Volume: 89-3 Pages: 217-230

    • Related Report
      2023 Annual Research Report
    • Peer Reviewed
  • [Journal Article] Political reforms and the funding of parties in Japan: 1955-20202022

    • Author(s)
      Matthew M. Carlson, Masaki Nakabayashi
    • Journal Title

      Democratization

      Volume: 30 Issue: 2 Pages: 195-214

    • DOI

      10.1080/13510347.2022.2120473

    • Related Report
      2022 Research-status Report
    • Peer Reviewed / Open Access / Int'l Joint Research
  • [Journal Article] The Citizen Preferences-Positive Externality Trade-off: A Survey Study of COVID-19 Vaccine Deployment in Japan2022

    • Author(s)
      Iida Takashi、Kawata Keisuke、Nakabayashi Masaki
    • Journal Title

      SSM - Population Health

      Volume: 19 Pages: 101191-101191

    • DOI

      10.1016/j.ssmph.2022.101191

    • Related Report
      2022 Research-status Report
    • Peer Reviewed / Open Access
  • [Presentation] Risk-sharing in tenancy contracts: Learning from agricultural land leases in Imperial Japan2023

    • Author(s)
      Masaki Nakabayashi
    • Organizer
      The North American Summer Meeting of the Econometric Society
    • Related Report
      2023 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Narrative premium2023

    • Author(s)
      Kenneth McElwain, Keisuke Kawata, Masaki Nakabayashi
    • Organizer
      the North American Winter Meeting of the Econometric Society, Allied Social Science Associations 2023 Annual Meeting, New Orlean
    • Related Report
      2022 Research-status Report
    • Int'l Joint Research
  • [Presentation] Risk-sharing in tenancy contracts: Learning from agricultural land leases in Imperial Japan2022

    • Author(s)
      Masaki Nakabayashi
    • Organizer
      the Midwest Macroeconomics Meeting 2022 Fall, Southern Methodist University, Dallas, TX
    • Related Report
      2022 Research-status Report
    • Int'l Joint Research
  • [Presentation] Legendary Bridges: Rental Housing Markets in Tokugawa Japan2022

    • Author(s)
      Yu Mandai, Masaki Nakabayashi
    • Organizer
      the North American Meetings of the Regional Science Association International, Montreal
    • Related Report
      2022 Research-status Report
    • Int'l Joint Research
  • [Presentation] Rationale for paternalism: “Semifeudalistic” contracts in imperial Japan2022

    • Author(s)
      Masaki Nakabayashi
    • Organizer
      Society for Institutional & Organizational Economics 26th Annual Conference, Tronto (hybrid), online presentation
    • Related Report
      2022 Research-status Report
    • Int'l Joint Research
  • [Presentation] Economics of lenten power dinner: Social spending by trading companies in Imperial Japan2022

    • Author(s)
      Masaki Nakabayashi, Hisayuki Oshima
    • Organizer
      Society for Institutional & Organizational Economics 26th Annual Conference, Tronto (hybrid), online
    • Related Report
      2022 Research-status Report
    • Int'l Joint Research
  • [Presentation] One nation restored: The security-liberty trade-off under uncertainty2022

    • Author(s)
      Keisuke Kawata, Masaki Nakabayashi
    • Organizer
      The North American Summer Meeting of the Econometric Society, Miami Herbert Business School, University of Miami, Florida, USA
    • Related Report
      2022 Research-status Report
    • Int'l Joint Research
  • [Presentation] One nation restored: The security-liberty trade-off under uncertainty2022

    • Author(s)
      Keisuke Kawata, Masaki Nakabayashi
    • Organizer
      The Southern Political Science Association Virtual Summer Meeting
    • Related Report
      2022 Research-status Report
    • Int'l Joint Research
  • [Presentation] 農業と土地制度2021

    • Author(s)
      西谷正浩
    • Organizer
      社会経済史学会全国大会
    • Related Report
      2021 Research-status Report
  • [Presentation] 中世経済史の回顧と展望:趣旨説明2021

    • Author(s)
      中林真幸
    • Organizer
      社会経済史学会全国大会
    • Related Report
      2021 Research-status Report
  • [Presentation] The Evolution of Japan’s State Capacity, 1670-20102021

    • Author(s)
      Masaki Nakabayashi
    • Organizer
      The 12th International Convention of Asia Scholars, Kyoto Seika University, virtual presentation, August 24, 2021.
    • Related Report
      2021 Research-status Report
  • [Book] 経済史・経営史研究入門―基本文献,理論的枠組みと史料調査・データ分析の方法2022

    • Author(s)
      中林 真幸(共著)
    • Publisher
      有斐閣
    • Related Report
      2021 Research-status Report
  • [Book] 中世は核家族だったのか2021

    • Author(s)
      西谷 正浩
    • Total Pages
      224
    • Publisher
      吉川弘文館
    • ISBN
      9784642059244
    • Related Report
      2021 Research-status Report

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Published: 2021-07-13   Modified: 2025-01-30  

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