Edited by Claude Ménard and Mary M. Shirley
Chapter 12: Questions of property rights
The study of property rights lies at the heart of institutional economics and has been the subject of much seminal research. But many old research questions demand new answers. Why and when do property rights emerge? What role does or should the state play in the creation and evolution of property rights? I argue there is no static answer to these questions. Novel technologies and production processes, combined with modern global demand shocks, have created pressures for new definitions of property rights and opened new research opportunities. For example, rising demand for sand has led to sand mafias in India, brutally defending their control rights, while the greater value being placed on pristine environments is challenging old “use-it-or-lose-it” rules. To understand and predict institutional responses moving forward, the field will need a new cadre of creative and dedicated scholars employing new theory, applications, and empirical tests.
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.