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Is judicial inefficacy increasing the weight of the house property market in Spain? Evidence at the local level

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  • Juan Mora-Sanguinetti

    ()

Abstract

The weight of the housing tenancy market in Spain is very low. It is frequently argued that an ineffective judicial system, implying a cumbersome procedure to evict a non-paying tenant or simply requiring a long period to execute a decision, may be an important determinant of the tenancy market’s weakness, as it constrains the effective supply by reducing the profitability of landlords. This research studies this effect econometrically using a panel data approach and exploring differences in judicial efficacy among the Spanish provinces. After controlling for several other factors, this study concludes that the degree of inefficacy of the judicial system has a positive impact on the property share among provinces in Spain. Copyright The Author(s) 2012

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Bibliographic Info

Article provided by Spanish Economic Association in its journal SERIEs.

Volume (Year): 3 (2012)
Issue (Month): 3 (September)
Pages: 339-365

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Handle: RePEc:spr:series:v:3:y:2012:i:3:p:339-365

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Related research

Keywords: Judicial efficacy; Property market; Tenancy market; Contract enforcement; K40; R21;

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Cited by:
  1. Juan S Mora-Sanguinetti & Margarita Rubio, 2013. "Recent Reforms in Spanish Housing Markets: An Evaluation using a DSGE Model," Discussion Papers 2013/03, University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM).
  2. Miguel García-Posada & Juan S. Mora-Sanguinetti, 2014. "Entrepreneurship and enforcement institutions: Disaggregated evidence for Spain," Banco de Espa�a Working Papers 1405, Banco de Espa�a.

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