An interesting paper here that, like other work by Daron Acemoglu, uses military action--in this case, by the Japanese prior to the second World War--as a natural experiment examining the effects of property rights on later economic development. They find that the creation of formal property rights are associated with economic growth and infrastructure improvements around the Pacific basin.
Friday, December 3, 2010
Property Rights and Financial Development: The Legacy of Japanese Colonial Institutions
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