Definition Of Property Rights Research Articles

Research on the Environmental Issues in China's Sustainable Economic Development

Purpose - During the past twenty years, China has developed rapidly in economy. Meanwhile China's economic development has brought great many problems. Sustainable development is to achieve coordination in the ecological, economic and social aspects. Among them, the environment and resource issues are the most critical issues which affecting sustainable development in China. With China's rapid economic development, China's ecological environment is facing the most serious threat in water pollution, air pollution, solid waste pollution and the destruction of forests and biodiversity, resulting in a significant loss of the national economy. This research aims to examine whether the tragedy of the commons has hindered the sustainable development of China's economy or not. On the other hand, we try to analyze a solution to improve this situation. Research design, data, and methodology - Theoretical background study, finding optimization models, and data analysis. Results - In the case of a clear definition of property rights, the air will have a market price. The market price will coordinate pollutant emissions. Conclusions - The tragedy of commons has hindered the sustainable development. The model of China's Economic development should be changed.

Land leasing and sharecropping in Brazil: Determinants, modus operandi and future perspectives

Ceding the use of land can have a positive impact on the unequal allocation of resources in rural areas. In Brazil, although the practice is nationwide, leasing and sharecropping are not widely employed. The objective of this article is to describe how these contracts work in the country, using 2006 Census Data. It was noticed that, on the one hand, the more advantageous contracts involve producers with higher levels of income and qualification, located mainly in the Southeast, South and Midwest. On the other hand, there is an expressive number of poor, small producers in the Northeast whose productive activity barely provides subsistence for the family. It is unlikely that these contracts will be a viable option to access land while there is still instability surrounding property (better definition of property rights) and the employment of incentives for the beneficiaries themselves.

A solution for an externality, greenhouse gases: carbon market

Based on the new institutional economics, Ronald Coase posits that a state should create conditions, through the definition of property rights, for economic agents to freely negotiate so-called 'environmental goods', which can include greenhouse gas (GHG) emissions reduction. In this sense, the carbon trade follows the logic advocated by Coase. Since the carbon market is influenced by many factors, some structures have grown more than others. Relevant examples of market mechanisms are those related to project-based emission reductions, and the cap and trade principle, which establishes limits on GHG emissions based on trade allowances. Given that carbon market solutions are a mechanism created in order to contribute to a decrease in GHG, this paper presents economic theories related to this market; analyses carbon markets with a focus on advantages and problems; and offers an action and development plan for the carbon market road map.

The Redevelopment of China's Construction Land: Practising Land Property Rights in Cities through Renewals

AbstractExisting literature on China's urbanization focuses primarily on the expansion of cities and towns, with little attention being paid to urban renewals. The wasteful use of urban land has conventionally been attributed to the ambiguous definition and ineffective protection of property rights. This study examines recent practices in urban redevelopment in Guangzhou – a site chosen by the central authorities to pilot urban renewals (sanjiu gaizao). The research identifies a local practice in which institutional changes are made not in the delineation of land property rights but instead in the redistribution of the benefits to be made from land redevelopment. Current users of the land are offered a share of the land conveyance income previously monopolized by the state as an incentive to encourage them to engage in urban renewal. Land-use intensity and efficiency have increased, along with social exclusion and marginalization. Research findings cast doubt over the perceived notion that the uniform and unambiguous definition of property rights is the prerequisite for improved land-use efficiency and call for a critical evaluation of the current urban renewal policies that completely ignore the interests of the migrant population who outnumber local residents by a large margin.

The Politics of Property in Land

Alongside the policy of promoting real estate in land as a vehicle for driving accumulation and financing urban development, the Government of India introduced a policy to provide property rights to squatters as part of Rajiv Awas Yojana (RAY) programme, an urban poverty alleviation scheme. Based on ethnographic research carried out in the Kathputli Colony, a squatter settlement in Delhi, this article examines the politics of creating in-situ property rights under the RAY. The article illustrates the manner in which property rights are produced and reconfigured through contestations over their meaning and boundaries. The making of property at the Kathputli Colony constitutes a fluid and conflictual process, influenced by several actors, including urban planning authorities, courts, non-governmental organizations and colony residents. My analysis of the process reveals how the planning authority mobilized a language of legal rights for squatters as well as participatory planning instruments to facilitate the transformation of land held by squatters into upmarket residential and commercial real estate. I chart how these manoeuvres have been contested by Kathputli Colony residents in an ongoing struggle to obtain land rights. Yet, the political space to negotiate such rights is curtailed by changing definitions of property rights and by closed institutional and legal framework underpinning RAY.

THE STOCK EXCHANGE, THE STATE AND ECONOMIC DEVELOPMENT IN MEXICO, 1932-1976

ABSTRACTIn this article I examine the history of the Mexican Stock Exchange from the end of the Revolution until 1975, under the hypothesis that it did not carry out its pertinent functions in corporate financing but was rather an economic and political instrument of the government. Due to state intervention and the deficient definition of property rights, its functioning was completely anomalous except during this period. The article represents a first step in the study of the role of the stock exchange in Latin American corporatist economic models.

From Social Recognition of Property to Political Recognition by the State

Gerhart’s book makes real contributions and nicely incorporates doctrinal payoffs. It sells short, however, the distributional concerns embedded in core property doctrines and so does not entirely account for the extent to which positive law can and does diverge from social recognition. It therefore admits constitutional protection for property that is too parsimonious, and that also does not embrace the full complexity of the relationship between property and the State. This short response argues that positive property rights—especially in a modern regulatory state—are inherently redistributive. When the State has a choice between different regulatory strategies for achieving public goals, constitutional limits like the Takings Clause should not rely on formal categories but must instead account explicitly for distributive concerns. At the end of the day, the State is an active, not passive, player in the definition of property rights, a role that comes with both constitutional limitations and requirements.

The teaching commons: using a short story to discuss capitalism, property rights, public goods, power, justice and class

This article suggests using a short story to elucidate the concepts of power, class and property rights, and as a springboard for class discussion. I feel there is no better primer on the diversity of the human condition than fiction. The article starts with a formal definition of property rights, then introduces Ivan Turgenev's 'The Loner' - a powerful short story depicting mid-19th century Russia. The article concludes with several questions to precipitate class discussion.

Economic analysis of pre-emptive right in the Serbian Law on property restitution and compensation

This paper is application of cost-benefit analysis on a pre-emptive rights, which is established by the Serbian Law on Property Restitution and Compensation. The basic hypothesis is that this law institute disturbs efficiency of resource allocation, and decreases social welfare. There are a few better and more efficient institutes which can be used for gaining of goods in public ownership. To prove this hypothesis, we used neo-institutional economy method and normative method. In the first part of the paper, we presented the law of pre-emptive rights in the legal system of Serbia. After that, we analyzed effects of pre-emptive rights on a deviation from resource allocation. The third part represents an analysis of institutional frame for optimal resource allocation. There is a special view on imprecise definition of property rights, as well as the increased transaction costs due to the existence of the right of pre-emption.

Is Religion Associated with Entrepreneurial Activity?

This paper provides a quantitative investigation of the strength of the potential relationship between entrepreneurial activity and religious affiliation. The relationship between religion and economic development has attracted recent attention. A positive association may indicate that religion raises the social acceptability of entrepreneurial activity, by inculcating incentives to accumulate wealth and acquire personal responsibility, as well as providing social capital and may be particularly effective where state governance systems are weak. Institutionalist perspectives suggest that religious institutions may support definition of property rights. Economic benefits flow through reduced transactions costs.This paper engages these discussions in order to present a preliminary empirical investigation of the relationships which may exist across national boundaries between religion and entrepreneurship. Definitions of entrepreneurship are taken from the Global Entrepreneurship Monitor (GEM) studies for 2011 and 2012, focusing on the individual rather than on the business venture. Recent data on religious affiliation across countries are used to construct various measures of religious activity and diversity.Preliminary findings suggest, in particular, a significant association between GEM indicators and evangelical-pentecostal-charismatic Christian affiliation. The strength of these associations is offset by state regulation of religion. These findings suggest that attention needs to be paid to the potentially important role that certain forms of religion might play is providing a supportive cultural environment for entrepreneurship. They also suggest that policy-makers may wish to pay closer attention to the potentially supportive role that certain religious organizations might play in new business formation.

Study on the Carbon Balance Trading under the Framework of Ecological Compensation

This article investigates the improvement and supplement of carbon balance trading under the framework of ecological compensation from three angles: different set of ecological compensation problem from the resource space, environmental finance market and market incentives of technology innovation, concluding that market-oriented environmental resource allocation has higher efficiency and superiority. At the same time, establishment and efficient operation of the carbon balance market needs strong government support, and the government initial definition of property rights is crucial. At last, the paper puts forward measures and suggestions of carbon market transaction.

The argument for property rights in body parts: scarcity of resources

This article attempts to answer two basic questions. First, can body parts be the subject of property rights? This requires us to start with a definition of property rights, and...

Homo Economicus and the Economics of Property Rights

This article challenges some fundamental propositions of property rights theory by revealing the inability of new institutional economics to fully grasp the notion of property, as reflected in its narrow and problematic definition of property rights. The concept of property relations is proposed as better suited to capture the social and institutional aspects of property. By reconsidering the case of the Montagnais, originally used by Alchian and Demsetz for illustrative purposes, and drawing on the works of Polanyi and McManus, we show that the historical explanation of the emergence of (private) property rights provided by Alchian and Demsetz is flawed. JEL Codes: D02, D23, P14

Legal Regulation of Carbon Market and Construction of Carbon Market Legal System in China

Coming from policies and laws, carbon market, should be legally regulated. Because its transactional objects, definition of property rights and rules setting and supervision are special. This paper describes the development of carbon market, analyzes the theoretical basis of legal regulation of carbon market, discusses the path of legal regulation of carbon market, and finally points out the key problems which should be solved in the construction of carbon market legal system.

Under Pressure: Diving's Impact on the Offshore Petroleum Industry

Diving technology An intricate dance between developments in diving and in the offshore oil and gas industry has been under way since the industry’s beginnings. This can be traced back to 1897 when the first oil wells were drilled into the seabed from specially constructed wharves a few feet from the shore of a small California community called Summerland, 5 miles east of Santa Barbara. The number of wharves extending up to 25 ft from the shore grew, each with 6 to 20 wells. Sometime before 1911, Albert Christie was hired to conduct dives on the wharves—possibly the first time in history when a diver was involved in the search for oil and gas. According to Christopher Swann, in The History of Oilfield Diving, “To a considerable extent, the history of oilfield diving is the history of modern diving as a whole.” He remarks that, “Today, nearly all work done under water, whether with divers or robots, is carried out using equipment and techniques developed to meet the requirements of the offshore oil [and gas] industry.” Diving itself likely goes back eons, as humans learned to plunge into bodies of water for fish or items, such as pearls or sponges, which they came to value. As various sea-going vessels were developed, such as human-powered galleys used by the Phoenicians, which pushed human geographical limits through a maritime trading culture that spread across the Mediterranean from 1550 BCE to 300 BCE, it stands to reason that when shipwrecks occurred, people would seek to salvage treasure like precious metals or jewels from the ocean depths. A mid-second century inscription found at Ostia, the port of ancient Rome, refers to a guild of divers, corpus urinatorum, who were employed in the construction and maintenance of bridge and harbor foundations. In a paper published in 1976 in the American Journal of Philology, classical archaeologist John Oleson writes, “Salvage diving was frequent enough in the Roman world to require the definition of property rights in the Digest [of Roman law].”

Causes and Effects of Crises on Financial System Stability in Emerging Countries

Former socialist countries are characterized by an early transition recession transformation and faced several destabilizing events such as: high levels of inflation, the relative immobility of production factors (primarily labor), incorrect or ambiguous definition of property rights; preponderance of sector unemployment; evidence of discrepancies between the revenue rising population, the existence of an underground economy of higher dimensions. Major emerging economies from Central and Eastern Europe are post- communist countries that faced transition after adopting market-based economy and become emerging markets. An important issue during transition was the creation of a two-pillar banking system (e.g. Central Bank and commercial banks), while bank restructuring involves not only profit performing banks but, more importantly, changes in lending practice. The difficulty of restructuring and the magnitude of recapitalization slowed significantly the achievement of independent governance by privatization in state-owned banks. After a short period of market-based economy, emerging countries had been affected by the crisis started in the developed countries (characterized by lower growth, higher unemployment and poverty, and changes in inequality). Through several channels, crisis had affected also emerging countries differently, depending on the extent to which they are vulnerable to particular canals. Romania's status in the context of transition bears the characteristics determined by the situation inherited from the centralized economy and the options of political forces after 1989. The starting point was unfavorable both from an economic perspective, but also social, economic inefficiency due to the existence of industrial projects and sometimes senseless economic, profound structural economic imbalances, sizing of industries and alarming social indicators. Developing countries were affected by the crisis that began in developed countries, characterized by low economic growth, boost unemployment and poverty and inequality changes. A number of transmission channels of the crisis also affected differently, also developing countries, according to the extent that they are vulnerable to certain channels. Emerging economies in Central and Eastern Europe are the post-communist economies that have experienced the transition, after the adoption of market-based economy. In the last part of the paper we are looking for some transmission channels of crisis and some possible effects on post- communist countries during crisis, using dummy variables and some OLS estimators of the major factors identified as transmission channels using a dataset from EBRD databases.

Land Tenure Rights in India: an analysis of the failure of amendments to the Hindu Succession Act

The right to a minimum standard of living as a basic human right is recognized internationally. As Hernando DeSoto argues in his book, The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else, a clear, legal definition of property rights is essential in an owner’s realization of return to their capital [1]. This would enable an individual in a developing country to raise their standard of living, thus contributing to the recognition of the right to property as a basic human right [2]. The implementation of property rights has become a priority for governments, NGOs, and international development agencies in many countries. While the right to property legally applies to both sexes, it is not extended to women in practice. Amendments to section 6 of the Hindu Succession Act in 2005 legitimized land ownership and inheritance for Indian women [4]. However, the 2006 Agricultural Census indicates that only 10.7% of Indian landowners are women [5]. The failure of implementation of legal changes regarding property rights and women can be attributed to cultural and religious opinions of women, traditional land tenure systems established before British colonial rule, and government bias within legislation. The Indian government must consider preexisting cultural norms and de facto property rights in the employment of new legislations, as they may impose costs on women. In order for changes in legislation to be effective, they must be inclusive of all women of different religious backgrounds, and simultaneous changes across government sectors must be enacted.

Optimal Property Rights in Financial Contracting

This article adopts a definition of property rights from legal scholarship: A property right (in contrast to a contractual right) is enforceable, not only against the parties to a contract, but also against third parties outside the contract. In a financial contracting setting, we ask: When should the law enforce a lender's contractual protections as property rights, given that these rights may be hidden and costly for other lenders to discover? Our model explains why the law limits the creation and enforceability of property rights, and develops principles of optimal enforceability. These principles are often reflected in the law.

Direitos de propriedade, desmatamento e conflitos rurais na Amazônia

O objetivo deste trabalho e comprovar empiricamente a relacao entre conflitos rurais e desmatamento na fronteira amazonica. Na literatura sobre o processo de ocupacao da regiao, enfatiza-se a natureza violenta da ocupacao das terras como uma das caracteristicas da dinâmica do processo do desmatamento. Contudo, ha poucas evidencias estatisticas acerca dessa relacao. Para testar empiricamente tal hipotese, foram usados dados estatisticos sobre violencia, medida pela taxa de homicidios, desmatamento e variaveis socioeconomicas, disponiveis para 575 municipios da Amazonia Legal. Os resultados comprovam que desmatamento e violencia estao associados e corroboram a hipotese de que ambos resultam de uma ma definicao dos direitos de propriedade.

Dynamic Inefficiencies of Intellectual Property Rights from an Evolutionary/Problem-Solving Perspective: Some Insights on Computer Software and Reverse Engineering

This interdisciplinary paper focuses on an evolutionary and problem-solving approach to intellectual property rights in order to discuss some controversial issues in the European legislation on computer software and in some recent competition law case (e.g. the Microsoft case). Given such claims, we argue that a standard “Coasian” approach to property rights, designed to cope with the externalities of semi public goods may not be appropriate for computer software, as it may decrease both ex-ante incentives to innovation and ex-post efficiency of diffusion. On the other hand the institutional definition of property rights may strongly influence the patterns of technological evolution and division of labour in directions which are not necessarily optimal. Taking the European legislation on computer software and some recent competition law cases as an example, this paper intends to show that a more careful balancing of costs and benefits, both in static and dynamic terms should be suitable for a pro-innovation IP regime and competition policy.