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Some Caution about Property Rights as a Recipe for Economic Development

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  • Kennedy David

    (Harvard Law School)

Abstract

Choices about the meaning and allocation of property rights pose the sorts of policy questions familiar to economists thinking about development policy. If we are seeking economic growth of this or that sort, who should have access to what resources and on what conditions? "Clear and strong property rights" are neither an escape from these questions nor a ready-made answer. Property law is simple one place in which struggles over these questions have been carried out. In this short essay, I review these common, if mistaken, ideas about property rights in the West in light of the Western experience. My objective is to place the strategic choices embedded in any property regime in the foreground and lead one to hesitate before accepting conventional neo-liberal wisdom about the importance of "clear" or "strong property rights" for economic development.

Suggested Citation

  • Kennedy David, 2011. "Some Caution about Property Rights as a Recipe for Economic Development," Accounting, Economics, and Law: A Convivium, De Gruyter, vol. 1(1), pages 1-64, January.
    • Handle: RePEc:bpj:aelcon:v:1:y:2011:i:1:n:3
    DOI: 10.2202/2152-2820.1006
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    Cited by:

    1. Diego Gil & Pablo A. Celhay, 2022. "Property rights and market behavior in the low‐income housing sector: Evidence from Chile," Journal of Empirical Legal Studies, John Wiley & Sons, vol. 19(4), pages 1148-1178, December.
    2. Heyns Anri & Mostert Hanri, 2018. "Three Mining Charters and a Draft: How the Politics and Rhetoric of Development in the South African Mining Sector are Keeping Communities in Poverty," The Law and Development Review, De Gruyter, vol. 11(2), pages 801-841, December.
    3. Anastasia Nesvetailova, 2015. "A Crisis of the Overcrowded Future: Shadow Banking and the Political Economy of Financial Innovation," New Political Economy, Taylor & Francis Journals, vol. 20(3), pages 431-453, June.
    4. Graben Sari, 2016. "Nested Regulation in Law and Development: Identifying Sites of Indigenous Resistance and Reform," The Law and Development Review, De Gruyter, vol. 9(2), pages 233-268, December.

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