scholarly journals Secure Property as a Bottom-Up Process: Firms, Stakeholders, and Predators in Weak States

2012 ◽  
Vol 64 (2) ◽  
pp. 242-277 ◽  
Author(s):  
Stanislav Markus
Keyword(s):  
Political Economy ◽  
Property Rights ◽  
Case Studies ◽  
Rule Of Law ◽  
Institutional Capacity ◽  
Weak States ◽  
Credible Commitments ◽  
Time Horizons ◽  
Community Residents ◽  
Original Survey

How do property rights become secure? How does rule of law take hold in an economy? The author uses an original survey of 516 firms in Russia and Ukraine, as well as interview-based case studies, to reexamine these fundamental issues of political economy. Most states in the developing world lack the requisite time horizons and institutional capacity to make the credible commitments emphasized in the literature. In this context, the author argues that firms can enforce their property rights without resort to mafias by forming alliances with stakeholders such as foreign actors, community residents, and labor. These stakeholders can impose costs on the potential aggressors through diverse political strategies, allowing firms to defend their property rights not only from private predators but also from the state. The article evaluates this “bottomup” theory of secure property rights against existing state-based theorizing.

scholarly journals The Art and Science of Economic Explanation: Introduction to the Special Issue in Honor of Yoram Barzel

2019 ◽  
Vol 16 (2) ◽  
pp. 119-126
Author(s):  
Rosolino A. Candela ◽  
Ennio E. Piano
Keyword(s):  
Political Economy ◽  
Property Rights ◽  
Transaction Costs ◽  
Case Studies ◽  
Rule Of Law ◽  
Special Issue ◽  
Historical Case ◽  
The Rule Of Law ◽  
Scientific Analysis ◽  
Social Scientific

AbstractThis introduction to the special issue in honor of Professor Yoram Barzel provides an overview of his scholarship and a summary of the contributions to this special issue. Each contribution advances or elaborates upon major themes in Barzel's theoretical and applied work on property rights, transaction costs, and political economy. The contributions fall into three categories: an examination of the foundations and implications of the ‘Barzelian’ method for social scientific analysis; Barzel's economics of property rights and transaction costs to historical case studies; and advances to Barzel's theory of the state, which includes an analysis of the origins of democracy and the rule of law.

The political economy of insecure property rights: insights from the Kingdom of Sicily

2019 ◽  
Vol 16 (2) ◽  
pp. 233-249 ◽  
Author(s):  
Rosolino A. Candela
Keyword(s):  
Political Economy ◽  
Property Rights ◽  
State Formation ◽  
Rule Of Law ◽  
The Political ◽  
Market Exchange ◽  
Credible Commitment ◽  
The Rule Of Law ◽  
Definition Of ◽  
The 19Th Century

AbstractHow did the evolution of the rule of law become stunted in Sicily during the 19th century? The work of economist Yoram Barzel, particularly his property-rights approach to understanding the political economy of state formation, is uniquely suited to understanding the failure of Italy's unification process to secure the rule of law in Sicily during the 19th century. This failure can be explained by a lack of a credible commitment to the rule of law in the state formation process. I argue that this lack of credible commitment manifested itself in the abolition of previously existing parliamentary institutions as an independent collective action mechanism, as well as prior constitutional agreements that existed in the Kingdom of Sicily. The resulting uncertainty over the security and legal definition of property rights over land raised the transaction costs of competing for resources through productive specialization and market exchange. In turn, it reduced the relative costs of competition for land ownership and the use of enforcement through other means, such as rent seeking or organized crime.

The Peace of God

2021 ◽  
pp. 104346312110657
Author(s):  
Andrew Young
Keyword(s):  
Political Economy ◽  
Property Rights ◽  
Middle Ages ◽  
Rule Of Law ◽  
Western Europe ◽  
Tenth Century ◽  
High Middle Ages ◽  
Clear Delineation ◽  
Residual Claimants

Scholars have argued that the politically fractured landscape of medieval Western Europe was foundational to the evolution of constitutionalism and rule of law. In making this argument, Salter and Young (2019) have recently emphasized that the constellation of political property rights in the High Middle Ages was polycentric and hierarchical; holders of those rights were residual claimants to the returns on their governance and sovereign. The latter characteristics—residual claimancy and sovereignty—imply a clear delineation of jurisdictional boundaries and their integrity. However, historians’ description of the “feudal anarchy” that followed the tenth-century disintegration of the Carolingian Empire does not suggest clearly delineated and stable boundaries. In this paper, I highlight the role of the Peace of God movement in the 11th and 12th centuries in delineating and stabilizing the structure of political property rights. In terms of historical political economy, the Peace of God movement provides an important link between the early medieval era and the constitutional arrangements of the High Middle Ages.

Patents and Development in the New Global Economy

2017 ◽  
Author(s):  
Kenneth C. Shadlen
Keyword(s):  
Political Economy ◽  
Case Studies ◽  
Global Economy ◽  
International Political Economy ◽  
World Order ◽  
Global Politics ◽  
Pharmaceutical Patents ◽  
Key Points ◽  
Comparative Case Studies ◽  
Privately Owned

The concluding chapter reviews the main findings from the comparative case studies, synthesizes the main lessons, considers extensions of the book’s explanatory framework, and looks at emerging challenges that countries face in adjusting their development strategies to the new global economy marked by the private ownership of knowledge. Review of the key points of comparison from the case studies underscores the importance of social structure and coalitions for analyses of comparative and international political economy. Looking forward, this chapter supplements the book’s analysis of the political economy of pharmaceutical patents with discussion of additional ways that countries respond to the monumental changes that global politics of intellectual property have undergone since the 1980s. The broader focus underscores fundamental economic and political challenges that countries face in adjusting to the new world order of privately owned knowledge, and points to asymmetries in global politics that reinforce these challenges.

Sign in / Sign up

Export Citation Format

Share Document