Property Rights and Elites
AbstractAn elite derives its status from its relationship to property, whether physical or human capital. While stable property rights are necessary for everyday business, unstable property rights that result in major institutional changes (such as land reform) may have a positive impact on economic development. When are the ‘wrong’ property rights right? Institutional changes have a positive impact on economic development when a country’s elite can manage them. To support this generalization we examine the managerial capacity associated with elite status, highlighting which capabilities enable them to control changes in property rights regimes to their individual and national advantage. We compare how nationalization of foreign firms, a radical change in property rights, was managed in Argentina, China, Korea and Taiwan after the Second World War.
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Bibliographic InfoPaper provided by World Institute for Development Economic Research (UNU-WIDER) in its series Working Paper Series with number wp2010-109.
Length: 10 pages
Date of creation: 2010
Date of revision:
Elites; property rights; indigensim; capabilities; role models;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-11-06 (All new papers)
- NEP-DEV-2010-11-06 (Development)
- NEP-HIS-2010-11-06 (Business, Economic & Financial History)
- NEP-PKE-2010-11-06 (Post Keynesian Economics)
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