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Spontaneous (non)emergence of property rights

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  • Leonid Polishchuk
  • Alexei Savvateev

Abstract

The paper analyses preferences of private owners over the degree of property rights protection. It is shown that inequality in resource ownership and/or relative inefficiency of production technologies could make wealthier agents favour less than full protection of property rights. If such agents control the choice of a property rights regime, fully secured property rights will not emerge from the grassroots. This conclusion is consistent with the failure to create an efficient property rights system in Russia. Copyright (c)The European Bank for Reconstruction and Development, 2004..

Suggested Citation

  • Leonid Polishchuk & Alexei Savvateev, 2004. "Spontaneous (non)emergence of property rights," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 12(1), pages 103-127, March.
  • Handle: RePEc:bla:etrans:v:12:y:2004:i:1:p:103-127
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    References listed on IDEAS

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