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Property Rights Without Transfer Rights

Christian DippelDustin FryeBryan Leonard

其他書名	A Study of Indian Land Allotment
出版	National Bureau of Economic Research, 2020
URL	http://books.google.com.hk/books?id=D4mvzQEACAAJ&hl=&source=gbs_api

註釋Abstract: Governments sometimes place restrictions on the transferability of property rights to prevent the property's owners from making "mistakes" such as selling their property under value. Such restrictions have often been applied to poor and indigenous communities around the world. The potentially high cost of such transfer-restrictions is that they limit or even eliminate the property's value as collateral in credit markets. We investigate this cost over the long run, using a natural experiment whereby millions of acres of reservation lands were allotted to Native American households under differing land-titles between 1887-1934. We compare non-transferable plots to neighboring plots held without transfer restrictions using fine-grained satellite imagery to study differences in land development and agricultural activity from 1974-today