Can Time and Markets Eliminate Costly Land Ownership Inequality?* Michael R. Carter University of Wisconsin-Madison USA and Frederic Zimmerman University of Washington USA April 2000 Paper prepared for the Annual Bank Conference on Development Economics 18 –20 April 2000 ___________ * This paper assembles and summarizes a number of the authors’ writings. As such, it is indebted to a long list of individuals and institutions who have supported us over time. Particular thanks are due to the John D. and Catherine T. MacArthur Foundation and to the IRIS research program at the University of Maryland. An earlier version of this paper was presented to the conference on Asset Distribution, Poverty and Economic Growth, Brasilia, July 1998. Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized