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Why not Africa? – Growth and Welfare Effects of Secure Property Rights

By I. Lindner and H. Strulik

Abstract

The paper presents the long-run equilibrium and development dynamics in the neoclassical\ud growth model and a simple model of endogenous growth when property rights are absent. The\ud results are compared to the outcome in a corresponding model economy with secure property\ud rights. The main findings are that there exists a considerable gain in level and growth of consumption\ud from establishing secure property rights, that economic performance without property\ud rights worsens with increasing number of competing groups, and that the existence, or absence\ud of property rights explains conditional convergence

Topics: Differential Games, Economic Growth, Property Rights, C73, O40
Publisher: Springer Netherlands
Year: 2004
OAI identifier: oai:dare.ubvu.vu.nl:1871/13172
Provided by: DSpace at VU
Journal:

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