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Property Rights and Elites

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  • Amsden, Alice H.

Abstract

An 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.

Suggested Citation

  • Amsden, Alice H., 2010. "Property Rights and Elites," WIDER Working Paper Series 109, World Institute for Development Economic Research (UNU-WIDER).
  • Handle: RePEc:unu:wpaper:wp2010-109
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    File URL: http://www.wider.unu.edu/sites/default/files/wp2010-109.pdf
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    References listed on IDEAS

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    1. Jorge Blázquez-Lidoy & Javier Rodríguez & Javier Santiso, 2006. "Angel or Devil? China's Trade Impact on Latin American Emerging Markets," OECD Development Centre Working Papers 252, OECD Publishing.
    2. Barry Eichengreen & Yeongseop Rhee & Hui Tong, 2004. "The Impact of China on the Exports of Other Asian Countries," NBER Working Papers 10768, National Bureau of Economic Research, Inc.
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    Keywords

    Elites; property rights; indigensim; capabilities; role models;

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