Institutional foundations of impersonal exchange : theory and policy of contractual registries / Benito Arrunada.

Format:

Book

Author/Creator:

Arruñada, Benito.

Language:

English

Subjects (All):

Land titles--Registration and transfer.

Land titles.

Right of property.

Conveyancing.

Contracts.

Physical Description:

1 online resource (317 p.)

Place of Publication:

Chicago : University of Chicago Press, 2012.

Language Note:

English

Summary:

Governments and development agencies spend considerable resources building property and company registries to protect property rights. When these efforts succeed, owners feel secure enough to invest in their property and banks are able use it as collateral for credit. Similarly, firms prosper when entrepreneurs can transform their firms into legal entities and thus contract more safely. Unfortunately, developing registries is harder than it may seem to observers, especially in developed countries, where registries are often taken for granted. As a result, policies in this area usually disappoint. Benito Arruñada aims to avoid such failures by deepening our understanding of both the value of registries and the organizational requirements for constructing them. Presenting a theory of how registries strengthen property rights and reduce transaction costs, he analyzes the major trade-offs and proposes principles for successfully building registries in countries at different stages of development. Arruñada focuses on land and company registries, explaining the difficulties they face, including current challenges like the subprime mortgage crisis in the United States and the dubious efforts made in developing countries toward universal land titling. Broadening the account, he extends his analytical framework to other registries, including intellectual property and organized exchanges of financial derivatives. With its nuanced presentation of the theoretical and practical implications, Institutional Foundations of Impersonal Exchange significantly expands our understanding of how public registries facilitate economic growth.

Contents:

Frontmatter

Contents

Illustrations

Acknowledgments

Introduction

One. The Role of Verifiable Contract Publicity in Impersonal Trade

Two. Institutions for Facilitating Property Transactions

Three. Institutions for Facilitating Business Transactions

Four. Strategic Issues for Creating Contractual Registries

Five. The Choice of Title and Registration Systems

Six. Conveyancing and Documentary Formalization

Seven. Organizational Challenges

Concluding Remarks

Notes

References

Index

Notes:

Description based upon print version of record.

Includes bibliographical references and index.

Description based on online resource; title from PDF title page (publisher's Web site, viewed 24. Apr 2020)

ISBN:

9786613896193

9781283583749

1283583747

9780226028354

0226028356

OCLC:

809049636