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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
    DOI: 10.1086/262008
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    References listed on IDEAS

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    1. Townsend, Robert M, 1994. "Risk and Insurance in Village India," Econometrica, Econometric Society, vol. 62(3), pages 539-591, May.
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    6. 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.
    7. 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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