Paths to Property: Approaches to Institutional Change in International Development
Institute of Economic Affairs, 2007 - Business & Economics - 113 pages
Sub-Saharan Africa has received tens of billions of dollars in foreign aid over the last fifty years, yet economic development has remained elusive. In many countries absolute poverty has increased and life expectancy has declined. Karol Boudreaux and Paul Aligica argue that instead of traditional approaches to development policy, the focus needs to be on adoption of sound political and legal institutions, with clearly defined and enforced private property rights to encourage entrepreneurship and economic growth. The authors examine several case studies of property rights reform in the developing world and suggest that universal policies applied regardless of local culture and tradition tend to fail. Reforms are more likely to succeed when they evolve gradually and are tailored to local norms and values rather than imposed from above by governments, aid agencies and supranational institutions.
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Paths to the creation of property rights
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Aligica allocation approach argues Arthur Seldon benefits Botswana bottom quartile Boudreaux bundles of rights capita challenge communal complexity conflict conservancies countries creating property rights customary law David Henderson defined Deininger developing world Douglass North economic development Economic Freedom economic growth Ensminger erty-rights evolutionary path example fiat formal formalised Hayek Hobart Paper ibid identify incentives Index of Economic individualised rights individuals informal institutional arrangements institutional change institutional environment international development ISBN Kofyar land legislation Libecap ment Mercatus Center Namibia Nigeria Norman Barry Occasional Paper Ostrom path to property Paul Ormerod Philip Booth Plateau policymakers political problems Professor property environments property-rights arrangements property-rights creation property-rights environment property-rights systems property-rights technology protection quantitative policy quartile reform rent-seeking Research Monograph rights creation rights to property rules secure property rights secure rights social norms society specific strategies sub-Saharan Africa tion titles transaction costs transfer understand wildlife