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Spontaneous (non)emergence of property rights

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Author Info
Leonid Polishchuk
Alexei Savvateev

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Abstract

The paper analyses preferences of private owners over the degree of property rights protection. It is shown that inequality in resource ownership and/or relative inefficiency of production technologies could make wealthier agents favour less than full protection of property rights. If such agents control the choice of a property rights regime, fully secured property rights will not emerge from the grassroots. This conclusion is consistent with the failure to create an efficient property rights system in Russia. Copyright (c)The European Bank for Reconstruction and Development, 2004..

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Publisher Info
Article provided by The European Bank for Reconstruction and Development in its journal The Economics of Transition.

Volume (Year): 12 (2004)
Issue (Month): 1 (03)
Pages: 103-127
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Handle: RePEc:bla:etrans:v:12:y:2004:i:1:p:103-127

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  1. Serguey Braguinsky & Roger Myerson, 2007. "Capital and growth with oligarchic property rights," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 10(4), pages 676-704, October. [Downloadable!] (restricted)
  2. Randolph Luca Bruno, 2006. "Unique Equilibrium in a Model of Rule of Law," LEM Papers Series 2006/16, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy. [Downloadable!]
  3. Constantin Sonin, 2000. "Private Protection of Property Rights, Inequality, and Economic Growth in Transition Economies," Econometric Society World Congress 2000 Contributed Papers 1300, Econometric Society. [Downloadable!]
  4. Konstantin Sonin, 2002. "Why the Rich May Favor Poor Protection of Property Rights," William Davidson Institute Working Papers Series 544, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
    Other versions:
  5. Savvateev Alexey, 2001. "The role of externalities in determining the average level of corruption in the production process," EERC Working Paper Series 2k-04e, EERC Research Network, Russia and CIS. [Downloadable!]
  6. Alexander Libman, 2006. "Government-Business Relations and Catching Up Reforms in the CIS," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 3(2), pages 263-288, December. [Downloadable!]
  7. Libman, Alexander, 2005. "Globalization and outcomes of institutional competition," MPRA Paper 11779, University Library of Munich, Germany. [Downloadable!]
  8. Barbara G. Katz & Joel Owen, 2004. "Moving Toward the Rule of Law in the Face of Corruption: Re-examining the Big-Bang," Working Papers 04-34, New York University, Leonard N. Stern School of Business, Department of Economics. [Downloadable!]
  9. Libman, Alexander, 2006. "Different paths of the second transition in the post-Soviet world: a political-economic analysis," MPRA Paper 11781, University Library of Munich, Germany. [Downloadable!]
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