After developing a conceptual apparatus, this paper econometrically explores the basis and bias of agrarian growth in contemporary Paraguay, a country where increasing land scarcity and rural unrest have occurred in the midst of rapid export growth. By taking apart the microeconomics of the growth boom, the goal is not only to uncover what is happening, but to identify policy options which might modify the outcome. The paper's chief finding is that more broadly based or inclusionary growth not only requires a microeconomic activism which reaches beyond the broad dictates of liberalization, but also attention to the specific temporal sequencing or ordering of these sectoral policies.