To the extent that land reform is able to lead to greater equality in terms of ownership of land, the prospects for economic growth will improve.
From "The Mystery of Economic Growth" by Elhann Helpman (p. 92):
"Alesina and Rodrik* found a significant negative effect of the Gini coefficient of the distribution of income on the growth rate. But they also found that this effect becomes insignificant when the Gini coefficient of the distribution of land ownership is also included as an explanatory variable. In other words, inequality in the ownership of land not only is more important for explaining growth than inequality in the distribution of income, it also turns the distribution income into an inconsequential factor. This finding has been corroborated by Deininger and Squire**"
*Alesina, Alberto and Dani Rodrik. 1994 "Distribution Politics and Economic Growth" Quarterly Journal of Economics 109: 465-490
**Deininger, Klaus and Lyn Squire. 1998 "New Ways of Looking at Old Issues: Inequality and Growth" Journal of Development Economics 57: 259-287