Measuring Property Rights Institutions / Simeon Djankov, Edward L. Glaeser, Valeria Perotti, Andrei Shleifer.

Format:

Book

Author/Creator:

Djankov, Simeon.

Contributor:

Glaeser, Edward L.

Perotti, Valeria.

Shleifer, Andrei.

National Bureau of Economic Research.

Series:

Working Paper Series (National Bureau of Economic Research) no. w27839.

NBER working paper series no. w27839

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2020.

Summary:

How do the different elements in the standard bundle of property rights - such as the right of possession or the right of transfer - differentially impact outcomes, such as urban development? This paper incorporates insecure property rights into a standard model of urban land prices and density, and makes predictions about investment in land and property, informality, and the efficiency of land use. Our empirical analysis links data on institutions related to land titling and transfer with multiple urban outcomes, from 190 countries. The evidence is generally consistent with the model's predictions, and more broadly with the Demsetz's (1967) approach to property rights institutions. Indeed, we document world-wide improvements in the quality of institutions facilitating property transfer over time.

Notes:

September 2020.

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