Property rights and economic growth: evidence from a natural experiment
AbstractIn 1795 the British took control of the Cape colony (South Africa) from the Dutch; and in 1843 they exogenously changed the legal basis of landholding, giving more secure property rights to landholders. Since endowments and other factors were held constant, these changes offer clean tests of the effects on economic growth of colonial identity and secure property rights. The effects of both changes were immediate, positive and large. Other legal and institutional changes, such as the move to a common law system in 1827, had no such effects on economic growth.
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Bibliographic InfoPaper provided by Department of Economics, Norwegian School of Economics in its series Discussion Paper Series in Economics with number 20/2011.
Length: 48 pages
Date of creation: 08 Dec 2011
Date of revision:
Contact details of provider:
Postal: NHH, Department of Economics, Helleveien 30, N-5045 Bergen, Norway
Phone: +47 55 959 277
Fax: 5595 9100
Web page: http://www.nhh.no/sam/
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Economic growth; legal origins; property rights;
Find related papers by JEL classification:
- N47 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Africa; Oceania
- O43 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
This paper has been announced in the following NEP Reports:
- NEP-AFR-2011-12-19 (Africa)
- NEP-ALL-2011-12-19 (All new papers)
- NEP-FDG-2011-12-19 (Financial Development & Growth)
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