December 18, 2007

Paths to Property

Approaches to Institutional Change in International Development
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Karol Boudreaux and Paul Aligica argue that the results of traditional approaches to development policy have been disappointing. Instead, the focus needs to be on the adoption of sound political and legal institutions. In particular, clearly defined and enforced private property rights are needed to encourage entrepreneurship and economic growth.

The authors examine several case studies of property rights reform in the developing world and suggest that universal policies applied regardless of local culture and tradition tend to fail. Reforms are more likely to succeed when they evolve gradually and are tailored to local norms and values rather than imposed from above by governments, aid agencies and supranational institutions.

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Citation (Chicago-Style)

Boudreaux, Karol and Paul Dragos Aligica. "Paths to Property: Creating Property Rights in Africa."  London: Institute for Economic Affairs, 2008.