The political economy of legal titling

  title={The political economy of legal titling},
  author={Ilia Murtazashvili and Jennifer Brick Murtazashvili},
  journal={The Review of Austrian Economics},
The libertarian case for legal titling is that formalization of the economic (de facto) rights of those who own land and buildings improves prospects for capitalism and, ultimately, development. Although all rich countries have private property rights, we argue that the success of legal titling depends on a certain kind of state—what we call a property-protecting state—that is often missing in developing countries. We use insights from Austrian economics, public choice, and institutional… 
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  • 2017