Privatizing the Commons and Economic Degradation
We develop a dynamic model of the exploitation of an environmental resource with endogenous property rights. We are able to explain both the evolution of property rights and environmental quality. In some circumstances the time path of environmental quality is U-shaped and resembles an Environmental Kuznets Curve. However this patern derives from changes in the property rights regime, not from changes in income.
|Date of creation:||01 May 2005|
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