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Untitled: A Study of Formal and Informal Property Rights in Urban Ecuador

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Author Info
Jean O. Lanjouw (Yale University)
Philip I. Levy (Yale University)

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Abstract

We explore the substitutability of formal and informal property rights using new survey data from Ecuador, where households have both formal and informal claims to urban residential property. We develop a model of property transactions that distinguishes between transferable and non--transferable claims, and show how this distinction affects the interpretation of hedonic price regressions. The unconditional effect of title is to raise properties" value by 23.5%. However, we also find that informal property rights can substitute effectively for formal property rights, and suggest that titling programmes should be targeted at young disorganised communities if they are to benefit the recipients. Copyright Royal Economic Society 2002

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Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 112 (2002)
Issue (Month): 482 (October)
Pages: 986-1019
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Handle: RePEc:ecj:econjl:v:112:y:2002:i:482:p:986-1019

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Migot-Adholla, Shem, et al, 1991. "Indigenous Land Rights Systems in Sub-Saharan Africa: A Constraint on Productivity?," World Bank Economic Review, Oxford University Press, vol. 5(1), pages 155-75, January.
  2. Jimenez, Emmanuel, 1985. "Urban squatting and community organization in developing countries," Journal of Public Economics, Elsevier, vol. 27(1), pages 69-92, June. [Downloadable!] (restricted)
  3. Johnson, Omotunde E G, 1972. "Economic Analysis, The Legal Framework and Land Tenure Systems," Journal of Law & Economics, University of Chicago Press, vol. 15(1), pages 259-76, April.
  4. Jimenez, Emmanuel, 1984. "Tenure Security and Urban Squatting," The Review of Economics and Statistics, MIT Press, vol. 66(4), pages 556-67, November. [Downloadable!] (restricted)
  5. Friedman, Joseph & Jimenez, Emmanuel & Mayo, Stephen K., 1988. "The demand for tenure security in developing countries," Journal of Development Economics, Elsevier, vol. 29(2), pages 185-198, September. [Downloadable!] (restricted)
  6. Besley, Timothy, 1995. "Property Rights and Investment Incentives: Theory and Evidence from Ghana," Journal of Political Economy, University of Chicago Press, vol. 103(5), pages 903-37, October. [Downloadable!] (restricted)
  7. Rivers, Douglas & Vuong, Quang H., 1988. "Limited information estimators and exogeneity tests for simultaneous probit models," Journal of Econometrics, Elsevier, vol. 39(3), pages 347-366, November. [Downloadable!] (restricted)
  8. Lee J. Alston & Gary D. Libecap & Robert Schneider, 1996. "The Determinants and Impact of Property Rights: Land Titles on the Brazilian Frontier," NBER Working Papers 5405, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  1. Jan K. Brueckner & Harris Selod, 2008. "A Theory of Urban Squatting and Land-Tenure Formalization in Developing Countries," Working Papers 070816, University of California-Irvine, Department of Economics. [Downloadable!]
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  2. Lall, Somik V. & Suri, Ajay & Deichmann, Uwe, 2005. "Household savings and residential mobility in informal settlements," Policy Research Working Paper Series 3596, The World Bank. [Downloadable!]
  3. Deininger, Klaus & Jin, Songqing & Adenew, Berhanu & Gebre-Selassie, Samuel & Nega, Berhanu, 2003. "Tenure security and land-related investment - evidence from Ethiopia," Policy Research Working Paper Series 2991, The World Bank. [Downloadable!]
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  4. Tilman Brück, 2003. "Land Access, Tenure and Investment in Post-War Northern Mozambique," Discussion Papers of DIW Berlin 358, DIW Berlin, German Institute for Economic Research. [Downloadable!]
  5. Lall, Somik V. & Deichmann, Uwe & Lundberg, Mattias K.A. & Chaudhury, Nazmul, 2002. "Tenure, Divesity, and commitment - community participation for urban service provision," Policy Research Working Paper Series 2862, The World Bank. [Downloadable!]
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  6. Tilman Brück, 2003. "Investment in Land, Tenure Security and Area Farmed in Northern Mozambique," HiCN Working Papers 01, Households in Conflict Network. [Downloadable!]
  7. Fabio Soares & Yuri Soares, 2005. "The Socio-Economic Impact of Favela- Bairro: What do the Data Say?," OVE Working Papers 0805, Inter-American Development Bank, Office of Evaluation and Oversight (OVE). [Downloadable!]
  8. Karen Macours & Alain de Janvry & Elisabeth Sadoulet, 2004. "Insecurity of Property Rights and Matching in the Tenancy Market," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series 992, Department of Agricultural & Resource Economics, UC Berkeley. [Downloadable!]
  9. Jonathan Conning & James A. Robinson, 2005. "Property Rights and the Political Organization of Agriculture," Hunter College Department of Economics Working Papers 405, Hunter College: Department of Economics. [Downloadable!]
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