Between 1660 and 1830, Parliament passed thousands of acts restructuring rights to real and equitable estates. These estate acts enabled individuals and families to sell, mortgage, lease, exchange, and improve land previously bound by inheritance rules and other legal legacies. The loosening of these legal constraints facilitated the reallocation of land and resources towards higher-value uses. Data reveals correlations between estate acts, urbanization, and economic development during the decades surrounding the Industrial Revolution.
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14107.
Length: Date of creation: Jun 2008 Date of revision: Handle: RePEc:nbr:nberwo:14107
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Find related papers by JEL classification: D02 - Microeconomics - - General - - - Institutions: Design, Formation, and Operations D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement D86 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Economics of Contract Law K0 - Law and Economics - - General K11 - Law and Economics - - Basic Areas of Law - - - Property Law N0 - Economic History - - General N43 - Economic History - - Government, War, Law, and Regulation - - - Europe: Pre-1913 N93 - Economic History - - Regional and Urban History - - - Europe: Pre-1913 O12 - Economic Development, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development P48 - Economic Systems - - Other Economic Systems - - - Other Economic Systems: Political Economy; Legal Institutions;
Property Rights R12 - Urban, Rural, and Regional Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography) R14 - Urban, Rural, and Regional Economics - - General Regional Economics - - - Land Use Patterns
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