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Property Rights, Externalities And Sustainable Development. A Case Study On Central And Eastern European Member States

Author

Listed:
  • Ana Iolanda VODA

    (Alexandru Ioan Cuza University, Department of Interdisciplinary Research � Humanities and Social Sciences, yolandadr3i@yahoo.com, Iasi, Romania,)

  • Claudiu TIGANAS

    (Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, clau_tiganas@yahoo.com, Iasi, Romania,)

Abstract

The present paper is aimed to put emphasis on the fact that the role and importance of healthy institutional order in achieving sustainable development is essential. The whole environment theoretical movement follows the same development trend and theoretical and doctrinary evolution. Nevertheless, the market as a real, tangible product of the standard economic judgement system bears imperfections, i.e. income distribution, transaction costs or negative externalities. We therefore aim to bring strong arguments to demonstrate that, irrespective of the ideological level we take into account, we can not refer to market in the absence of private property. Other formal and informal institutions must participate in the whole process in order to enable it to function within optimum parameters. The whole CEE countries� analysis illustrates that protecting and respecting property rights is of paramount importance in maintaining a high level of development.

Suggested Citation

  • Ana Iolanda VODA & Claudiu TIGANAS, 2015. "Property Rights, Externalities And Sustainable Development. A Case Study On Central And Eastern European Member States," Journal of Public Administration, Finance and Law, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 8(8), pages 87-95, December.
    • Handle: RePEc:aic:jopafl:y:2015:v:8:p:87-95
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    References listed on IDEAS

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    1. Chiriac Cãtãlin & Vodã Ana-Iolanda & Constantinescu Radu, 2012. "The Limitations of Standard Economical Theory from the Perspective of Development, Sustainability and Rationality in Resource Allocation," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 442-447, May.
    2. Partha Dasgupta, 2011. "The Ethics of Intergenerational Distribution: Reply and Response to John E. Roemer," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 50(4), pages 475-493, December.
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