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Institutional Adaptability and Economic Development: The Property Rights Revolution in Britain, 1700 to 1830 / Gary Richardson, Dan Bogart.
- Format:
- Book
- Author/Creator:
- Richardson, Gary.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w13757.
- NBER working paper series no. w13757
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Institutional Adaptability and Economic Development
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2008.
- Summary:
- Adaptable property-rights institutions, we argue, foster economic development. The British example illustrates this point. Around 1700, Parliament established a forum where rights to land and resources could be reorganized. This venue enabled landholders and communities to take advantage of economic opportunities that could not be accommodated by the inflexible rights regime inherited from the past. In this essay, historical evidence, archival data, and statistical analysis demonstrate that Parliament increased the number of acts reorganizing property rights in response to increases in the public's demand for such acts. This evidence corroborates a cornerstone of our hypothesis.
- Notes:
- Print version record
- January 2008.
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