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=== What is the author's topic and hypothesis? ===
This paper examines the impact on agricultural development from a decrease in the cost of protecting farmland. Barbed wire appears to have had a substantial impact on agriculture development in the US and in particular, this may reflect an important role for protecting land and securing farmers' full bundle of property rights.
Theoretical Framework: <math>frac{\partial I}{\partial C_{p}}=frac{\partial I}{\partial P} /cdot frac{\partial P}{\partial C_{p}}</math>
=== How does the author test the hypothesis? ===
