The Politics of Property Rights: Political Instability, Credible Commitments, and Economic Growth in Mexico, 1876-1929This book addresses a puzzle in political economy: why is it that political instability does not necessarily translate into economic stagnation or collapse? In order to address this puzzle, it advances a theory about property rights systems in many less developed countries. In this theory, governments do not have to enforce property rights as a public good. Instead, they may enforce property rights selectively (as a private good), and share the resulting rents with the group of asset holders who are integrated into the government. Focusing on Mexico, this book explains how the property rights system was constructed during the Porfirio Díaz dictatorship (1876-1911) and then explores how this property rights system either survived, or was reconstructed. The result is an analytic economic history of Mexico under both stability and instability, and a generalizable framework about the interaction of political and economic institutions. |
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The Politics of Property Rights: Political Instability, Credible Commitments ... Stephen Haber,Armando Razo,Noel Maurer No preview available - 2004 |
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agricultural AHBNM Álvaro Obregón ASARCO asset holders average Banamex Banco banking system Banxico Boletín Financiero capital Carrancistas Carranza Chihuahua commitment problem Compañía credible commitment CROM Díaz government Díaz's economic Engineering and Mining estimates exports expropriation fact factions federal government Financiero y Minero firms foreign governors growth Haber hectares Huerta imports incentives increase indicate industrialists institutions investment labor land landowners limited government machinery Madero manufacturing market share Mexican government Mexican Yearbook Mexico City Meyer Michoacán military million miners mining companies Mining Journal Monterrey Morelos oil companies output owners parcel tax percent pesos petroleum political instability Porfirian Porfiriato Porfirio Díaz president production profits property rights property rights system protection Puebla rates of return rent seeking rents result revolution sector smelting Source Table Tampico tariff tax rate tax revenues third party third-party enforcers U.S. dollars United Veracruz Villa Villistas VPI coalition workers Zapatistas
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