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Title:Property rights and their impact on the wealth of nations : a cross-country study PDF Logo
Authors:Heitger, Bernhard
Issue Date:2003
Series/Report no.:Kieler Arbeitspapiere 1163
Abstract:This paper investigates the quality of property rights and long-term economic growth in an international cross-section of countries in 1975?1995. The empirical tests indicate that the impact of private property rights on growth is positive and simultaneously determined. Correcting for the simultaneity bias reveals a regression coefficient which is quite remarkable: A doubling in the index of the quality of property rights leads to a more than doubling in per capita incomes. In addition, private property rights also impact the ?traditional? determinants of economic growth. Thus it seems appropriate to class private property rights with the ultimate sources of economic growth.
Subjects:Economic Growth
Property Rights
Institutions
JEL:O40
Document Type:Working Paper
Appears in Collections:Kieler Arbeitspapiere, IfW
Publikationen von Forscherinnen und Forschern des IfW

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