Series: IMF Working Papers
Author(s): Era Dabla-Norris , and Scott Freeman
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 September 1999
Keywords: Property rights, multiple equilibria, expropriation, development, economic reform, legal reform, capital punishment
This paper formalizes the role of legal infrastructure in economic development in a general equilibrium model with endogenously determined property rights enforcement. It illustrates the mutual importance of proper...