Publication

This paper investigates the quality of property rights and long-term economic growth in an international cross-section of countries in 1975-1995. The author finds that the impact of private property rights on growth is positive and simultaneously determined. Corrected for simultaneity, the model indicates that a doubling in the index of the quality of property rights leads to more than a doubling in per capita incomes. Additionally, private property rights impact the 'traditional' determinants of economic growth.