Property Rights Institutions and Investment

Saleh, Jahangir

Property Rights Institutions and Investment

2004

Saleh, Jahangir

This paper examines the channels through which alternative property rights institutions affect investment. These institutions are defined by a society's enforced laws, regulations, governance mechanisms and norms concerning the use of resources. A transaction cost framework is used to analyze the incentive impact of various types of property rights, liability rules, and rules regarding contracts. This framework is used to discuss the legal and cultural conditions necessary for the formation of productivity-enhancing organizations and the proper role of government in providing the infrastructure for private investment. A brief section examines the role of cultural and religious norms in determining the economic effectiveness of legal systems, with a focus on Islamic countries. The final section evaluates empirical approaches used to discover the specific ways property rights structures affect investment and growth.

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Palabras clave de AGROVOC

aquifers assets bankruptcy bargaining power common property compensation conservation developing countries economic development economics equilibrium fisheries households income innovation insurance intellectual property rights marginal costs market economies open access pollution private ownership private property productivity property rights public goods resource allocation social costs taxation transaction costs

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Editorial

World Bank, Washington, D.C.

Otras materias

Increasing returns; Damages; Economic circumstances; Private property rights; Wealth; Incentive problems; Government regulation; Local commons; Moral hazard; Welfare function; Distribution of wealth; Property values; Production activities; Marginal benefits; Cooperative agreements; Expected returns; Oil; Efficient outcomes; Potential effects; Market failures; Contractual arrangements; Entitlements; Government regulations; Enforcement mechanisms; Bargaining; Natural monopolies; Oil reserves; Common property resources; Open access resources; Externality; Economies of scale; Competitive markets; Craftsmen; Subtractability; External costs; Social benefits; Tragedy of the commons; Adverse selection; Resource use; Borrowing; Negative externalities; Marginal value; Lands; Economic performance; Transactions costs

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application/pdf, text/plain

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CC BY 3.0 IGO, http://creativecommons.org/licenses/by/3.0/igo/, World Bank

En AGRIS desde: 2024-10-18

Fecha de modificación: 2025-10-25

Formato: Dublin Core

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DOI http://documents.worldbank.org/curated/en/2004/05/5138710/property-rights-institutions-investment https://hdl.handle.net/10986/14135

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Property Rights Institutions and Investment

2004

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