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Property Rights and Investment Incentives: Theory and Evidence from Ghana

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  • Besley, Timothy

Abstract

This paper examines the link between property rights and investment incentives. The author develops three theoretical arguments based on security of tenure, using land as collateral and obtaining gains from trade. The paper then presents empirical evidence from two regions in Ghana. The author investigates the possibility that rights are endogenous, with farmers making improvements to enhance their land rights. Finally, he suggests tests for which of the theories might explain the results. Copyright 1995 by University of Chicago Press.

Suggested Citation

  • Besley, Timothy, 1995. "Property Rights and Investment Incentives: Theory and Evidence from Ghana," Journal of Political Economy, University of Chicago Press, vol. 103(5), pages 903-937, October.
  • Handle: RePEc:ucp:jpolec:v:103:y:1995:i:5:p:903-37
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    References listed on IDEAS

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    1. Robert J. Barro, 1991. "Economic Growth in a Cross Section of Countries," The Quarterly Journal of Economics, Oxford University Press, vol. 106(2), pages 407-443.
    2. Migot-Adholla, Shem, et al, 1991. "Indigenous Land Rights Systems in Sub-Saharan Africa: A Constraint on Productivity?," World Bank Economic Review, World Bank Group, vol. 5(1), pages 155-175, January.
    3. de Meza, David & Gould, J R, 1992. "The Social Efficiency of Private Decisions to Enforce Property Rights," Journal of Political Economy, University of Chicago Press, vol. 100(3), pages 561-580, June.
    4. Frank Place & Peter Hazell, 1993. "Productivity Effects of Indigenous Land Tenure Systems in Sub-Saharan Africa," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 75(1), pages 10-19.
    5. Feder, Gershon & Feeny, David, 1991. "Land Tenure and Property Rights: Theory and Implications for Development Policy," World Bank Economic Review, World Bank Group, vol. 5(1), pages 135-153, January.
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