A ‘de Soto Effect’ in Industry? Evidence from the Russian Federation
AbstractRussia’s tremendous inter-regional variation in the pace of industrial land rights reform has meant that geography has helped determine the current tenure status of firms’ production plots as much as any individual firm characteristics. By exploiting both this difference in the pace with which land reform has been carried out across Russia’s federal subjects and a unique micro-level dataset, we present evidence strongly consistent with the proposition that more secure rights to land facilitate access to external financing. This finding is confirmed by other evidence from the survey that points to private land serving as an important source of collateral for Russian lenders and borrowers.
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Bibliographic InfoPaper provided by Bank of Finland, Institute for Economies in Transition in its series BOFIT Discussion Papers with number 33/2011.
Length: 30 pages
Date of creation: 15 Dec 2011
Date of revision:
Contact details of provider:
Postal: Bank of Finland, BOFIT, P.O. Box 160, FI-00101 Helsinki, Finland
Phone: + 358 10 831 2268
Fax: + 358 10 831 2294
Web page: http://www.suomenpankki.fi/bofit_en/
More information through EDIRC
industrial land; property rights; Russia; collateral;
Other versions of this item:
- Alexei Karas & William Pyle & Koen Schoors, 2012. "A â€œde Soto Effectâ€ in Industry? Evidence from the Russian Federation," HSE Working papers, National Research University Higher School of Economics WP BRP 19/EC/2012, National Research University Higher School of Economics.
- O16 - Economic Development, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
- P25 - Economic Systems - - Socialist Systems and Transition Economies - - - Urban, Rural, and Regional Economics
- P31 - Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions
- R14 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Land Use Patterns
- R52 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Land Use and Other Regulations
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-01-03 (All new papers)
- NEP-CIS-2012-01-03 (Confederation of Independent States)
- NEP-URE-2012-01-03 (Urban & Real Estate Economics)
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