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Commons as insurance and the welfare impact of privatization

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  • Baland, Jean-Marie
  • Francois, Patrick

Abstract

It is shown here that despite the efficiency gains from privatization, when markets are incomplete, all individuals may be made worse off by privatization, even when the resource is equitably privatized. Such market incompleteness is common in the developing world and can explain the often encountered resistance to efficiency enhancing privatizing reforms, especially in the case of village level landholdings and forests. The advantage of commonly held property arises because of its superior insurance properties (which tend to provide income maintenance in low states). Sufficient conditions are established under which any feasible insurance scheme under private property cannot ex ante Pareto dominate allocations under the commons.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Public Economics.

Volume (Year): 89 (2005)
Issue (Month): 2-3 (February)
Pages: 211-231

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Handle: RePEc:eee:pubeco:v:89:y:2005:i:2-3:p:211-231

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Web page: http://www.elsevier.com/locate/inca/505578

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References

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  1. Baland, Jean-Marie & Platteau, Jean-Philippe, 2000. "Halting Degradation of Natural Resources: Is There a Role for Rural Communities?," OUP Catalogue, Oxford University Press, number 9780198290612, September.
  2. Humphries, Jane, 1990. "Enclosures, Common Rights, and Women: The Proletarianization of Families in the Late Eighteenth and Early Nineteenth Centuries," The Journal of Economic History, Cambridge University Press, vol. 50(01), pages 17-42, March.
  3. Das Gupta, Monica, 1987. "Informal Security Mechanisms and Population Retention in Rural India," Economic Development and Cultural Change, University of Chicago Press, vol. 36(1), pages 101-20, October.
  4. Wilson, Paul N & Thompson, Gary D, 1993. "Common Property and Uncertainty: Compensating Coalitions by Mexico's Patoral Ejidatarios," Economic Development and Cultural Change, University of Chicago Press, vol. 41(2), pages 299-318, January.
  5. De Meza, David & Gould, J R, 1987. "Free Access versus Private Property in a Resource: Income Distributions Compared," Journal of Political Economy, University of Chicago Press, vol. 95(6), pages 1317-25, December.
  6. de Meza, David & Gould, J. R., 1985. "Free access vs private ownership: A comparison," Journal of Economic Theory, Elsevier, vol. 36(2), pages 387-391, August.
  7. Subhrendu K. Pattanayak & Erin O. Sills, 2001. "Do Tropical Forests Provide Natural Insurance? The Microeconomics of Non-Timber Forest Product Collection in the Brazilian Amazon," Land Economics, University of Wisconsin Press, vol. 77(4), pages 595-612.
  8. Bromley, Daniel W & Chavas, Jean-Paul, 1989. "On Risk, Transactions, and Economic Development in the Semiarid Tropics," Economic Development and Cultural Change, University of Chicago Press, vol. 37(4), pages 719-36, July.
  9. Cohen, Jon S. & Weitzman, Martin L., 1975. "A Marxian model of enclosures," Journal of Development Economics, Elsevier, vol. 1(4), pages 287-336, November.
  10. Brito, Dagobert L. & Intriligator, Michael D. & Sheshinski, Eytan, 1997. "Privatization and the distribution of income in the commons," Journal of Public Economics, Elsevier, vol. 64(2), pages 181-205, May.
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Citations

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Cited by:
  1. Ambec, Stefan & Sebi, Carine, 2011. "The distributional impact of common-pool resource regulations," Open Access publications from University of Toulouse 1 Capitole http://neeo.univ-tlse1.fr, University of Toulouse 1 Capitole.
  2. Takasaki, Yoshito, 2011. "Do the Commons Help Augment Mutual Insurance Among the Poor?," World Development, Elsevier, vol. 39(3), pages 429-438, March.
  3. James Fenske, 2012. "Imachi Nkwu: Trade and the commons," CSAE Working Paper Series 2012-19, Centre for the Study of African Economies, University of Oxford.
  4. Ayalew Ali, Daniel & Goldstein, Markus, 2011. "Environmental and Gender Impacts of Land Tenure Regularization in Africa," Working Papers UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).
  5. Arghya Ghosh & Partha Sen, 2008. "Privatization in a Small Open Economy with Imperfect Competition," Discussion Papers 2008-21, School of Economics, The University of New South Wales.
  6. Jean-Michel Salles, 2011. "Valuing biodiversity and ecosystem services: why linking economic values with Nature?," Working Papers 11-24, LAMETA, Universtiy of Montpellier, revised Dec 2011.
  7. Ali, Daniel Ayalew & Deininger, Klaus & Goldstein, Markus, 2011. "Environmental and gender impacts of land tenure regularization in Africa : pilot evidence from Rwanda," Policy Research Working Paper Series 5765, The World Bank.
  8. Platteau, Jean-Philippe, 2002. "The Gradual Erosion of the Social Security Function of Customary Land Tenure Arrangements in Lineage-Based Societies," Working Papers UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).
  9. Philippe Delacote, 2008. "The Safety-net Use of Non Timber Forest Products," Working Papers - Cahiers du LEF 2008-04, Laboratoire d'Economie Forestiere, AgroParisTech-INRA.
  10. World Bank, 2007. "Poverty and Environment : Understanding Linkages at the Household Level," World Bank Publications, The World Bank, number 6924.
  11. Alice Nicole Sindzingre, 2007. "Poverty traps: a perspective from development economics," EconomiX Working Papers 2007-26, University of Paris West - Nanterre la Défense, EconomiX.

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