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Property Rights and Economic Efficiency: A Survey of Institutional Factors

Author

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  • AUSTIN JAFFE
  • DEMETRIOS LOUZIOTIS

Abstract

The primary focus of this paper is to provide a survey of the diverse research that examines the relationship between property rights and their effect on economic efficiency. The implications of this type of research are enormous for international real estate investors duc to the wide range of institutional structures affecting land and buildings throughout the world, Generally, it is found that stronger property rights structures are related to higher levels of economic efficiency because private property rights institutions create incentives to become increasingly efficient in terms of resource usage.

Suggested Citation

  • Austin Jaffe & Demetrios Louziotis, 1996. "Property Rights and Economic Efficiency: A Survey of Institutional Factors," Journal of Real Estate Literature, Taylor & Francis Journals, vol. 4(2), pages 136-159, January.
    • Handle: RePEc:taf:rjelxx:v:4:y:1996:i:2:p:136-159
    DOI: 10.1080/10835547.1996.12090055
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