|**Table 5: IV regressions for impact of**|**title on self-asse**<br>|**ssed land rights**<br>|**and land values**<br>|||
|---|---|---|---|---|---|
||**Rented-in**<br>**land**<sup>**a**</sup>|**Got credit**<sup>**a**</sup>|**Risk of**<br>**disagreement**|**Right to sell?**|**Log land**<br>**value per ha**|
|**Panel A: All formal documents**||||||
|Parcel with formal document|-0.199***|-0.0372|-0.00662|0.417***|1.240***|
||(0.0365)|(0.0450)|(0.0183)|(0.0601)|(0.163)|
|Parcel with chief certificate|-0.278***|0.0296|0.0245**|0.0691*|0.456***|
||(0.0229)|(0.0300)|(0.0110)|(0.0361)|(0.0981)|
|State land with no title|-0.188***|0.0189|0.0174|-0.0289|-0.664***|
||(0.0551)|(0.0686)|(0.0269)|(0.0883)|(0.233)|
|Log parcel/holding area in ha|<br>-0.007***|<br>0.0171**|<br>0.00318|<br>0.00331|<br>-0.385***|
||(132.9)|(0.00795)|(0.00272)|(0.00894)|(0.0290)|
|Sargan overidentification statistic|0.520|0.00606|0.240|0.121|7.375|
|Chi-sq(1) p-value|0.471|0.938|0.624|0.728|0.00661|
|**Panel B: Formal documents by**||||||
|**provenance**||||||
|State land with title (_β1_)|-0.188***|-0.0391|0.00237|0.379***|1.255***|
||(0.0370)|(0.0459)|(0.0185)|(0.0609)|(0.167)|
|Prev. cust. land with title (_β2_)|<br>-0.271***|<br>-0.0231|<br>-0.0667|<br>0.664***|<br>1.127***|
||(0.0927)|(0.118)|(0.0460)|(0.151)|(0.388)|
|Parcel with chief certificate|-0.276***|0.0272|0.0253**|0.0660*|0.457***|
||(0.0231)|(0.0303)|(0.0110)|(0.0363)|(0.0983)|
|State land with no title|-0.198***|0.0176|0.00830|0.00871|-0.680***|
||(0.0554)|(0.0694)|(0.0272)|(0.0893)|(0.237)|
|Log parcel/holding area in ha|<br>-0.008***|<br>0.0186**|<br>0.00331|<br>0.00279|<br>-0.385***|
||(133.0)|(0.00811)|(0.00273)|(0.00899)|(0.0290)|
|Sargan overidentification statistic|0.584|0.0187|0.165|0.204|7.309|
|Chi-sq(1) p-value|0.445|0.891|0.685|0.652|0.00686|
|χ<sup>2</sup>-test:_β1_=_β2_|0.788|0.0104|2.279|3.576|0.108|
|p-value|0.375|0.919|0.131|0.0586|0.742|
|**Panel C: State vs customary land**<br>**(OLS regressions)**||||||
|<br>State land|-0.123***|-0.0111|-0.000169|0.208***|0.339***|
||(0.0132)|(0.0165)|(0.00611)|(0.0195)|(0.0512)|
|Log parcel/holding area in ha|<br>-0.008***|<br>0.0184**|<br>0.00309|<br>0.0160**|<br>-0.313***|
||(127.3)|(0.00773)|(0.00251)|(0.00803)|(0.0248)|
|Mean of dep. var.|0.11|0.17|0.03|0.32|8.46|
|No. of observations|2,744|2,485|2,649|2,649|2,435|

_Note:_ Field characteristics (subjective soil quality and slope measures) and owner characteristics (head’s gender, age, literacy status, membership in farms group and having a leadership position in local organization as well value of household and farm assets) are included throughout but coefficients not reported. Standard errors in parentheses. * p<0.10, ** p<0.05, *** p<0.010 a Regressions are at holding level, and the inverse hyperbolic sine (IHS) transformation is applied to holding area as some of the farms are pure tenants cultivating only rented-in land. As estimated coefficients depend of the unit of measurement of the IHStransformed variables (Aihounton & Henningsen 2020), we use the R<sup>2</sup> criterion to select the optimal scale factor holding size, i.e., in millions of ha. The reported coefficients for holding size are semi-elasticities calculated using equation (3) of Bellemare and Wichman (2020).

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