Land Market Distortions in India

2019 ◽  
pp. 179-205
Author(s):  
K.P. Krishnan ◽  
Venkatesh Panchapagesan ◽  
Madalasa Venkataraman
Keyword(s):  
Economic Growth ◽  
Property Rights ◽  
Information Asymmetry ◽  
Land Market ◽  
Land Markets ◽  
Political Will ◽  
The Past ◽  
Credit Creation ◽  
Weak Property ◽  
High Information

Land remains one of the most sought-after collateral for credit in India despite being afflicted by deep structural, regulatory, and information-driven distortions. These distortions stem from years of fragmented policymaking, poor governance and a lack of political will that cuts across most States in our Union. Rational lenders, in the presence of weak property rights and high information asymmetry, have responded through conservative credit policies. This has constrained significantly the ability to unlock the full value of land, something that is necessary for continued economic growth. We provide an overview of these distortions and how they impact land markets as well as credit creation in this article. We enumerate the various types of distortions and explore interventions—regulatory, structural and technological—that have been used to mitigate them in the past. We examine newer solutions, such as block chains for land registries and paralegal titling that are promising but require selective implementation to be successful.

Economics without history: objections to the rights hypothesis

2013 ◽  
Vol 28 (3) ◽  
pp. 323-346 ◽  
Author(s):  
ERIC L. JONES
Keyword(s):  
Economic Growth ◽  
At Risk ◽  
Property Rights ◽  
European Countries ◽  
Land Market ◽  
Public Rights

ABSTRACTReasons are given for doubting the currently fashionable thesis that economic growth and industrialisation in the case of England derived from establishing secure property rights after 1688. Customary and public rights remained at risk. Ancient arrangements often persisted far into Victorian times. Detailed evidence is presented of survivals and of illiquid features in the land market. Evidence is also given of endemic disputes over enclosure and tithes. Unlike some European countries, England failed to establish a land registry. Limited transactions probably reflected unwillingness to risk litigation. That unsatisfactory property rights did not, however, stifle growth is tribute to the underlying power of the market.

scholarly journals Establishing Property Rights through a Secure System of Land Title Management

2006 ◽  
Vol 45 (3) ◽  
pp. 511-515 ◽  
Author(s):  
Shahid H. Kardar
Keyword(s):  
Property Rights ◽  
Land Market ◽  
Land Markets ◽  
Land Title ◽  
Doing Business ◽  
The Poor ◽  
Land Transactions

Land is a critical economic asset in any economy. The need for a timely, accurate, safe, simple, secure, and universally accessible system of registering and recording land transactions and interest in land is the cornerstone of a proper land market. Such land markets are an important mechanism to empower the poor and reduce the costs of doing business.1 Secure property rights provide asset owners the incentive to invest in their property while allowing easier collateralisation. Without secure tradable property rights, land is ‘dead capital’.

What Did The Study of The Soviet Economy Contribute to Mainstream Economics?

2010 ◽  
pp. 39-55
Author(s):  
M. Ellman
Keyword(s):  
Economic Growth ◽  
Property Rights ◽  
General Equilibrium ◽  
Informal Sector ◽  
Institutional Economics ◽  
Soviet Economy ◽  
General Equilibrium Theory ◽  
Mainstream Economics ◽  
Universal Applicability ◽  
Soviet Experience

This article is an overview of the contribution made by economic Sovietology to mainstream economics. The long debate about the universal applicability of mainstream economics is reconsidered in the light of the Soviet experience. Information is provided on the contribution of the study of the Soviet economy to fields as diverse as the measurement of economic growth, institutional economics, economic administration, the economics of property rights, the economics of the informal sector, the economics of famines, the Austrian critique of general equilibrium theory, and incentives.

Concealment of Illegally Obtained Assets in Nigeria: Revisiting the Role of the Churches in Money Laundering

2020 ◽  
Vol 28 (1) ◽  
pp. 106-121
Author(s):  
Kato Gogo Kingston
Keyword(s):  
Economic Growth ◽  
Money Laundering ◽  
Financial Crime ◽  
The Past ◽  
Key Drivers ◽  
Nigerian Government

Financial crime in Nigeria – including money laundering – is ravaging Nigeria's economic growth. In the past few years, the Nigerian government has made efforts to tackle money laundering by enacting laws and setting up several agencies to enforce the laws. However, there are substantial loopholes in the regulatory and enforcement regimes. This article seeks to unravel the involvement of the churches as key drivers in money laundering crimes in Nigeria. It concludes that the permissive secrecy which enables churches to conceal the names of their financiers and donors breeds criminality on an unimaginable scale.

Turbulent Property Rights

2018 ◽  
Author(s):  
Hazel Gray
Keyword(s):  
Property Rights ◽  
Land Reform ◽  
High Growth ◽  
The State ◽  
The Political ◽  
Land Markets ◽  
Export Agriculture ◽  
Key Sectors ◽  
Political Settlement

This chapter explores the role of the political settlement in shaping outcomes of land investments by analysing struggles in key sectors of the economy. Land reform during the socialist period had far-reaching implications for the political settlement. Reforms to land rights under liberalization involved strengthening land markets; however, the state continued to play a significant role. Corruption within formal land management systems became prevalent during the period of high growth. Vietnam experienced a rapid growth in export agriculture but, in contrast with stable property rights for smallholders, Tanzania’s efforts to encourage large land investments were less successful. Industrialization in both countries generated new forms of land struggles that were influenced by the different distributions of power between the state, existing landowners, and investors.

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