The Importance of Property Rights to Development

The Importance of Property Rights to Development

This article explores the difference that the institution of property rights has made to the economic and political life of developed countries and the promise it holds for developing countries. By shaping the incentives of individuals and undergirding the institutions of society, a strong property...

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Veröffentlicht in:SAIS review (Paul H. Nitze School of Advanced International Studies) 2007-07, Vol.27 (2), p.31-43
Hauptverfasser: Sullivan, John D., Rogers, Jean, Bettcher, Kim Eric
Format: Artikel
Sprache:eng
Schlagworte:
Costs
Developing countries
Entrepreneurs
Industrial Revolution
Industrialized nations
Korean War
LDCs
Market economies
Private property
Property rights
Regulatory reform
Tax revenues
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Beschreibung
Zusammenfassung:This article explores the difference that the institution of property rights has made to the economic and political life of developed countries and the promise it holds for developing countries. By shaping the incentives of individuals and undergirding the institutions of society, a strong property rights regime lays the foundation for growth, freedom, and overall well-being. For individuals, property ownership entails opportunity, responsibility, and economic freedom. For society, these translate into investment, innovation, the possibility of widescale exchange, and even improved governance.
ISSN:1945-4716
1945-4724
1945-4724
DOI:10.1353/sais.2007.0042