property rights
Property Rights Provide an Exit From Social Institutions
In new research, evidence from a land titling campaign in the Democratic Republic of Congo shows that formal property rights can do more than secure land: they can give citizens an exit from costly informal obligations, writes Pablo Balán.
Corporations Are Governance Mechanisms, Not Shareholder Toys
Milton Friedman’s shareholder credo is simple and catchy but has shaky foundations. Corporate directors and officers are not agents of shareholders and have no...
How Does Political Uncertainty Affect the Valuation of Long-Term Property Rights? Lessons From Hong Kong
A new paper studies the link between ongoing political uncertainty and long-term property rights in Hong Kong. It finds that properties subject to political...
