Regulating the Land Market on the Basis of Incomplete Information: the case of Romania

The paper presents the most important characteristics of land market in Romania after the accession to the EU, i.e. farmland prices, volume of farmland transactions, as well as an estimation of farmland areas owned by foreigners, in order to understand, on the basis of these data, the reasons behind the recent initiative for the modification of the law regulating agricultural land sale-purchase. The conclusion is that the eventual modification of the law will not bring any improvement to land market operation in Romania, but risks breaching the EU Accession Treaty in order to create privileges for certain categories of farmers