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The economics of land title reform

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  • Miceli, Thomas J.
  • Kieyah, Joseph

Abstract

This paper develops a model of land title reform which shows that a policy of voluntary adoption of a new system is not likely to be successful, even if the new system Pareto dominates the existing one. The problem is the existence of an externality that prevents individual landowners from fully internalizing the benefits of the new system. Some evidence for the theory is presented based on historic efforts to institute land registration in the United States and England. Implications are also drawn for ongoing attempts by developing countries to establish formal property rights systems for land as part of a policy to spur economic growth.
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Suggested Citation

  • Miceli, Thomas J. & Kieyah, Joseph, 2003. "The economics of land title reform," Journal of Comparative Economics, Elsevier, vol. 31(2), pages 246-256, June.
    • Handle: RePEc:eee:jcecon:v:31:y:2003:i:2:p:246-256
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    References listed on IDEAS

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    1. Christopher Woodruff, 2001. "Review of de Soto's The Mystery of Capital," Journal of Economic Literature, American Economic Association, vol. 39(4), pages 1215-1223, December.
    2. Dong, Xiao-Yuan, 1996. "Two-tier land tenure system and sustained economic growth in post-1978 rural China," World Development, Elsevier, vol. 24(5), pages 915-928, May.
    3. Baker, Matthew & Miceli, Thomas J & Sirmans, C F & Turnbull, Geoffrey K, 2002. "Optimal Title Search," The Journal of Legal Studies, University of Chicago Press, vol. 31(1), pages 139-158, January.
    4. Miceli, Thomas J & Pancak, Katherine A & Sirmans, C F, 1996. "An Economic Analysis of Lead Paint Laws," The Journal of Real Estate Finance and Economics, Springer, vol. 12(1), pages 59-75, January.
    5. Alston, Lee J & Libecap, Gary D & Schneider, Robert, 1996. "The Determinants and Impact of Property Rights: Land Titles on the Brazilian Frontier," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 12(1), pages 25-61, April.
    6. Besley, Timothy, 1995. "Property Rights and Investment Incentives: Theory and Evidence from Ghana," Journal of Political Economy, University of Chicago Press, vol. 103(5), pages 903-937, October.
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    Cited by:

    1. Gutmann, Jerg & Voigt, Stefan, 2020. "Traditional law in times of the nation state: why is it so prevalent?," Journal of Institutional Economics, Cambridge University Press, vol. 16(4), pages 445-461, August.
    2. B. Ikubolajeh Logan & George Tengbeh & Brilliant Petja, 2012. "Towards a reorientation in land reform: From a market to locality-driven approach in South Africa’s land restitution programme," Progress in Development Studies, , vol. 12(2-3), pages 173-191, July.
    3. Arrunada, Benito & Garoupa, Nuno, 2005. "The Choice of Titling System in Land," Journal of Law and Economics, University of Chicago Press, vol. 48(2), pages 709-727, October.
    4. Arruñada, Benito, 2018. "Evolving practice in land demarcation," Land Use Policy, Elsevier, vol. 77(C), pages 661-675.

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    More about this item

    JEL classification:

    • K11 - Law and Economics - - Basic Areas of Law - - - Property Law
    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
    • Q15 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment
    • R52 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Land Use and Other Regulations

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