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How land registration affects financial development and economic growth in Thailand

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  • Byamugisha, Frank F.K.
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    Abstract

    Using an economy-wide conceptual framework, the author analyzes how land registration affects financial development and economic growth in Thailand. He uses contemporary techniques, such as error correction and co-integration, to deal with such problems as time-series data not being stationary. He also uses the auto-regressive distributed lag model to analyze long lags in output response to changes in land registration. His key findings: 1) Land titling has significant positive long-run effects on financial development. 2) Economic growth responds to land titling following a J curve, by first registering a fall and recovering gradually, thereafter to post a long, strong rally. 3) The quality of land registration services, as measured by public spending on land registration, has strongly positive and significant long-run effects on economic growth.

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    Paper provided by The World Bank in its series Policy Research Working Paper Series with number 2241.

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    Date of creation: 30 Nov 1999
    Handle: RePEc:wbk:wbrwps:2241
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    Keywords: Climate Change; Environmental Economics&Policies; Economic Theory&Research; Public Sector Economics&Finance; Land Use and Policies; Economic Theory&Research; Environmental Economics&Policies; Achieving Shared Growth; Inequality; Economic Growth;

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    1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
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    Cited by:

    1. Vassili Prokopenko & Paul Holden, 2001. "Financial Development and Poverty Alleviation; Issues and Policy Implications for Developing and Transition Countries," IMF Working Papers 01/160, International Monetary Fund.

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