Property Rights, Political Connections, and Corporate Investment

Meng Miao, Dragon Yongjun Tang and Lixin Xu

No 8973, Policy Research Working Paper Series from The World Bank

Abstract: Despite the literature on rural land property rights, studies on urban land property rights are rare. This paper studies the impact of an urban land titling program on firm investment. It finds that the program leads to increased investment rate for titling firms, and the positive effect holds only for politically connected firms. The effects are likely causal, because they are more pronounced for firms that are more likely to benefit from strengthened property rights. Connected titling firms experienced fewer disputes than nonconnected titling firms after the program, and the results remain robust when using instrumental variable estimation.

Keywords: Judicial System Reform; Common Property Resource Development; Social Policy; Regulatory Regimes; Legislation; Legal Products; Legal Reform; Agricultural Economics; Cultural Heritage&Urban Revitalization; Foreign Trade Promotion and Regulation; Trade Law; De Facto Governments; Democratic Government; Public Sector Administrative&Civil Service Reform; Public Sector Administrative and Civil Service Reform (search for similar items in EconPapers)
Date: 2019-08-12
New Economics Papers: this item is included in nep-law and nep-pol
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Citations: View citations in EconPapers (1)

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Related works:
Journal Article: Property rights, political connections, and corporate investment (2024)
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Persistent link: https://EconPapers.repec.org/RePEc:wbk:wbrwps:8973

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