Insecure Property and Technological Backwardness
Abstract
We consider the incentive to adopt superior technologies when private property is insecure. The welfare costs of insecure property can be substantially greater than those commonly associated with diversion and with the disincentive effect induced by imperfect appropriation of returns. When private property is sufficiently insecure, anticipation of conflict over economic distribution gives rise to technological backwardness, even though (1) superior technologies are readily available at zero cost and (2) the "ex post" diversion of resources might be small. Copyright 2005 Royal Economic Society.Download Info
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Bibliographic Info
Article provided by Royal Economic Society in its journal The Economic Journal.
Volume (Year): 115 (2005)
Issue (Month): 505 (07)
Pages: 703-721
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Handle: RePEc:ecj:econjl:v:115:y:2005:i:505:p:703-721
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Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.Cited by:
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- Stergios Skaperdas, 2007. "An Economic Approach to Analyzing Civil War," Working Papers 060715, University of California-Irvine, Department of Economics.
- Matthew J. Baker & Erwin H. Bulte, 2005.
"Kings and Vikings: On the Dynamics of Competitive Agglomeration,"
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- Matthew Baker & Erwin Bulte, 2010. "Kings and Vikings: on the dynamics of competitive agglomeration," Economics of Governance, Springer, vol. 11(3), pages 207-227, June.
- Jose-Luis Evia & Roberto Laserna & Stergios Skaperdas, 2008.
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- Jose Luis Evia & Roberto Laserna & Stergios Skaperdas, 2008. "Socio-Political Conflict and Eonomic Performance in Bolivia," Working Papers 070814, University of California-Irvine, Department of Economics.
- Rowthorn, Robert & Seabright, Paul, 2010.
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- Rowthorn, Robert & Seabright, Paul, 2010. "Property Rights, Warfare and the Neolithic Transition," TSE Working Papers 10-207, Toulouse School of Economics (TSE).
- J. Amegashie, 2011. "Incomplete property rights and overinvestment," Social Choice and Welfare, Springer, vol. 37(1), pages 81-95, June.
- Rick van der Ploeg & Dominic Rohner, 2010.
"War and Natural Resource Exploitation,"
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- Frederick Van der Ploeg & Dominic Rohner, 2010. "War and Natural Resource Exploitation," CESifo Working Paper Series 3244, CESifo Group Munich.
- Frederick van der Ploeg & Dominic Rohner, 2010. "War and natural resource exploitation," IEW - Working Papers iewwp481, Institute for Empirical Research in Economics - University of Zurich.
- J. Atsu Amegashie, 2009. "Incomplete Property Rights and Overinvestment," CESifo Working Paper Series 2711, CESifo Group Munich.
- Andrew Tiffin, 2006. "Ukraine: The Cost of Weak Institutions," IMF Working Papers 06/167, International Monetary Fund.
- Michelle R. Garfinkel & Stergios Skaperdas, 2006.
"Economics of Conflict: An Overview,"
Working Papers
050623, University of California-Irvine, Department of Economics, revised Sep 2006.
- Garfinkel, Michelle R. & Skaperdas, Stergios, 2007. "Economics of Conflict: An Overview," Handbook of Defense Economics, Elsevier.
- repec:idb:wpaper:4548 is not listed on IDEAS
- repec:idb:wpaper:4547 is not listed on IDEAS
- Douhan, Robin & Henrekson, Magnus, 2007. "The Political Economy of Entrepreneurship: An Introduction," Working Paper Series 688, Research Institute of Industrial Economics.
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