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Property Rights and Corruption

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  • Kemal, M Ali

Abstract

Property rights are the core of economic development. Property rights are essential for the people to believe in the market system. The paper discusses importance of property rights, problems in the property rights in Pakistan, possibility of designing property rights in Pakistan and its impact on corruption. The study concludes that there are lots of anomalies in the current property rights law which needs to be abolished such as benami transaction and general power of attorney. The study prefers Parcel (Torrens) based system because it is generally known to the people and the rules will be formed by taking informal constraints into consideration. Titling and registration of property rights in a formal way, coherent with informal constraints, would definitely increase corruption in the short, i.e., in the period of transition. But in the long run when the system is setup we can hope that the extent of corruption will decrease.

Suggested Citation

  • Kemal, M Ali, 2007. "Property Rights and Corruption," MPRA Paper 55709, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:55709
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    File URL: https://mpra.ub.uni-muenchen.de/55709/1/MPRA_paper_55709.pdf
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    References listed on IDEAS

    as
    1. Galiani, Sebastian & Schargrodsky, Ernesto, 2010. "Property rights for the poor: Effects of land titling," Journal of Public Economics, Elsevier, vol. 94(9-10), pages 700-729, October.
    2. Acemoglu, Daron & Verdier, Thierry, 1998. "Property Rights, Corruption and the Allocation of Talent: A General Equilibrium Approach," Economic Journal, Royal Economic Society, vol. 108(450), pages 1381-1403, September.
    3. Barzel,Yoram, 1997. "Economic Analysis of Property Rights," Cambridge Books, Cambridge University Press, number 9780521597135, February.
    4. Erica Field, 2002. "Entitled to Work: Urban Property Rights and Labor Supply in Peru," Working Papers 180, Princeton University, Woodrow Wilson School of Public and International Affairs, Research Program in Development Studies..
    5. repec:pri:rpdevs:field_entitled_to_work.pdf is not listed on IDEAS
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    More about this item

    Keywords

    Corruption; Property Rights; Enforcement;
    All these keywords.

    JEL classification:

    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • K42 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Illegal Behavior and the Enforcement of Law
    • P14 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Property Rights

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