Property rights and urban form

Djankov, Simeon, Glaeser, Edward, Perotti, Valeria and Shleifer, Andrei (2021) Property rights and urban form. Financial Markets Group Discussion Papers (813). Financial Markets Group, The London School of Economics and Political Science, London, UK.

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Abstract

How do the different elements in the standard bundle of property rights, including those of possession and transfer, influence the shape of cities? This paper incorporates insecure property rights into a standard model of urban land prices and density, and makes predictions about investment in land and property, informality, and the efficiency of land use. Our empirical analysis links data on institutions for land titling and transfer with multiple urban outcomes, in 190 countries. The evidence is generally consistent with the model's predictions, and more broadly with the Demsetz's (1967) approach to property rights institutions. Indeed, we document world-wide improvements in the quality of institutions facilitating property transfer over time.

Item Type:	Monograph (Discussion Paper)
Official URL:	https://www.fmg.ac.uk/
Additional Information:	© 2021 The Authors
Divisions:	Financial Markets Group
Subjects:	H Social Sciences > HC Economic History and Conditions H Social Sciences > HG Finance
JEL classification:	K - Law and Economics > K1 - Basic Areas of Law > K11 - Property Law P - Economic Systems > P1 - Capitalist Systems > P14 - Property Rights R - Urban, Rural, and Regional Economics > R3 - Production Analysis and Firm Location > R30 - General
Date Deposited:	23 May 2023 10:33
Last Modified:	16 May 2024 12:27
URI:	http://eprints.lse.ac.uk/id/eprint/118881

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