Property Rights and EconomicDevelopment

Abstract

This chapter develops a unified analytical framework, drawing on and extending theexisting literature on the subject, for studying the role of property rights in economicdevelopment. It addresses two fundamental and related questions concerning therelationship between property rights and economic activity. (i) What are themechanisms through which property rights affect economic activity? (ii) What arethe determinants of property rights? In answering these, it surveys some of the mainempirical and theoretical ideas from the extensive literature on the topic.Property rights, Economic development.