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Property, the Rule of Law, and Development in the Americas

In: Can Latin America Compete?

Author

Listed:
  • Peter F. Schaefer
  • P. Clayton Schaefer

Abstract

The principal impediment to Latin America’s competitiveness is the lack of credible commercial law, especially concerning property. Good property law is the foundation of free, impersonal, contract-based economies in the West. Without property law, entrepreneurship, commerce, and growth are stifled. Were the Latin American states able to create a modern legal environment, their transformation would open enormous new commercial markets with significant purchasing power that would demand First World goods and services.

Suggested Citation

  • Peter F. Schaefer & P. Clayton Schaefer, 2008. "Property, the Rule of Law, and Development in the Americas," Palgrave Macmillan Books, in: Jerry Haar & John Price (ed.), Can Latin America Compete?, chapter 0, pages 197-213, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-61047-7_11
    DOI: 10.1057/9780230610477_11
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    Cited by:

    1. Carol M. Sánchez & Kevin Lehnert., 2018. "Firm-level trust in emerging markets: the moderating effect on the institutional strength- corruption relationship in Mexico and Peru," Estudios Gerenciales, Universidad Icesi, vol. 34(147), pages 127-138, May.

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