Simeon Djankov, Edward Glaeser, Andrei Shleifer, 25 September 2020

In a world of limited public capacity, which rules and institutions that protect property rights have the largest impact on economic activity? This column addresses this question using a cross-section of 190 countries and focusing specifically on the distinction between the right of possession and the right of transfer in the context of urban land. It also documents worldwide improvements in the quality of institutions facilitating property transfer over time.

Stefano Bolatto, Alireza Naghavi, Gianmarco Ottaviano, Katja Zajc Kejžar, 16 April 2020

Contracting institutions have proved to be pivotal for supply chain organisation, and empirical evidence has shown that firms rely on outsourcing to deal with hold-up inefficiencies induced by contract incompleteness. For intangible assets, vertical integration is one strategy to prevent knowledge dissipation. This column presents new research that illustrates how firms organise their value chain and their ‘knowledge’ under imperfect protection of intellectual property rights. The results suggest that the quality of institutions protecting tangible and intangible assets may have opposite effects on organisational choices along the supply chain.

Branko Milanovic, 02 April 2019

Moshe Hazan, David Weiss, Hosny Zoabi, 23 March 2019

Countries such as England, the US, Canada, and Australia granted property rights to married women in the 19th century. The column uses US census and economic data from the time to show that the impact was financial as well as social. Women kept more of their assets as cash in US states that granted these rights. This reduced interest rates and accelerated industrialisation in these regions.

Laura Alfaro, Paola Conconi, Harald Fadinger, Andrew Newman, 28 October 2012

This paper shows that product prices determine organisational design by studying how trade policy affects vertical integration. The authors construct firm-level indices of vertical integration for a large set of countries and industries and exploit cross-section and time-series variation in import tariffs to examine the impact of prices on organisational choices.

Klaus Deininger, Aparajita Goyal, Hari Nagarajan, 03 December 2010

Women in many countries face legal barriers preventing them from inheriting property. This column argues that this is a starting place for broader gender inequality and that stronger inheritance rights for women are likely to be an effective mechanism for improving their access to physical and human capital.

Tim Besley, Maitreesh Ghatak, 22 April 2009

This column explores the security of property rights and the various channels through which they affect economic activity. It demonstrates a strong correlation between secure property rights and economic development and discusses the institutional challenges involved. Property rights reform is no panacea, and it faces difficult political economy hurdles in some countries.

Sergei Guriev, Konstantin Sonin, Anton Kolotilin, 25 March 2008

In recent years we have witnessed a phenomenon that has not been observed since the 1970s: the forced nationalization of major, foreign-owned oil assets in Venezuela, Bolivia, Russia and Kazakhstan. The authors of CEPR DP6755 study nationalizations in the oil industry around the world in 1960-2002 and show that governments are more likely to nationalize when oil prices are high and when political institutions are weak.


CEPR Policy Research