Property, the Rule of Law, and Development in the Americas

Peter F. Schaefer and P. Clayton Schaefer

Chapter Chapter 10 in Can Latin America Compete?, 2008, pp 197-213 from Palgrave Macmillan

Abstract: Abstract The principal impediment to Latin America’s competitiveness is the lack of credible commercial law, especially concerning property. Good property law is the foundation of free, impersonal, contract-based economies in the West. Without property law, entrepreneurship, commerce, and growth are stifled. Were the Latin American states able to create a modern legal environment, their transformation would open enormous new commercial markets with significant purchasing power that would demand First World goods and services.

Keywords: Intellectual Property; Economic Freedom; Shadow Economy; Intellectual Property Right; National Legal System (search for similar items in EconPapers)
Date: 2008
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DOI: 10.1057/9780230610477_11

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