Threats to security of property rights in a transition economy: An empirical perspective

Rostislav Kapeliushnikov (), Andrei Kuznetsov, Natalia Demina and Olga Kuznetsova

Journal of Comparative Economics, 2013, vol. 41, issue 1, 245-264

Abstract: Effective property rights protection plays a fundamental role in promoting economic performance. Yet measurement problems make the relationship between property rights and entrepreneurship an ambiguous issue. As an advancement on previous research in this paper we propose a new approach to the evaluation of the security of property rights based on direct measures that overcomes some limitations of previous studies. We apply this new metrics to a survey of manufacturing firms in Russia to identify the economic effects associated with the lack of property protection in a transition economy. Our analysis supports the view that there is a close relationship between institutions, property rights and economic growth. Our findings confirm that redistributive risks provide a depressing effect on investment and innovative activity of manufacturing enterprises and potentially result in a huge loss in efficiency and economic growth, which in other institutional settings could have been avoided.

Keywords: Property rights; Economic institutions; Economic growth (search for similar items in EconPapers)
JEL-codes: O43 P14 P26 P27 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jcecon:v:41:y:2013:i:1:p:245-264

DOI: 10.1016/j.jce.2012.05.002

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