Wednesday, March 10, 2010
Timothy J. Besley (London School of Economics) and Maitreesh Ghatak (London School of Economics) have posted Property Rights and Economic Development. The abstract:
This chapter develops a unified analytical framework, drawing on and extending the existing literature on the subject, for studying the role of property rights in economic development. It addresses two fundamental and related questions concerning the relationship between property rights and economic activity. (i) What are the mechanisms through which property rights affect economic activity? (ii) What are the determinants of property rights? In answering these, it surveys some of the main empirical and theoretical ideas from the extensive literature on the topic.