Connect with us

Hi, what are you looking for?

Metaverse CapitalistsMetaverse Capitalists

Investing

Property Rights and Economic Progress

Jeffrey Miron

Does a government definition of property rights promote economic progress? A recent paper suggests yes:

Cadastres—records of landownership—provide governments with the information necessary to tax and clarify ownership, making transactions more efficient. Cadastres underpin the security of ownership and enable land and credit markets to function at a national scale. As such, adopting or improving cadastres may impact a country’s economic growth. …

Our research finds that cadastres consistently contribute to economic growth. Specifically, between 1950 and 2015, a transition from no cadastral system to a full cadastre … was associated with an immediate 2.86 percentage point increase in the level of gross domestic product (GDP) per capita. …

Identifying the effect of cadastral reforms on economic growth is challenging. Governments may introduce cadastres as part of a large package of reforms or after a crisis when GDP levels are already recovering. … Thus, we cannot rule out the possibility that our estimate of the impact of cadastral reforms may, to some extent, capture general recovery effects from crises.

Nevertheless, these results support the libertarian claim that defining property rights enhances economic growth.

This article appeared on Substack on October 9, 2024.

    You May Also Like

    Stocks

    In this edition of StockCharts TV‘s The Final Bar, Dave shows how breadth conditions have evolved so far in August, highlights the renewed strength in the...

    Business

    In the UK, the care sector is under incredible strain, it’s good to know there are people working hard to address the issue. One...

    Business

    With the increased threat of industrial strike action looming across the UK, we consider whether a force majeure clause can strike the right chord...

    Politics

    On January 10, the French government announced plans to raise the retirement age from 62 to 64. The change would mean that after 2027,...

    Dislaimer: pinnacleofinvestment.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 metaversecapitalists.com | All Rights Reserved