Arbeitspapier

Property Rights Imperfections, Asset Allocation, and Welfare: Co-Ownership in Bulgaria

This paper analyzes how imperfections of property rights affect allocation of assets and welfare, using micro-survey data from Bulgaria. Co-ownership of assets is widespread in many countries due to inheritance. Central and Eastern Europe offers an interesting natural experiment to assess the effects of such rights imperfections because of the asset restitution process in the 1990s. Bulgaria is particularly interesting because of the prominence of the co-ownership problem (about half of all land plots are co-owned), because of the strong fragmentation of land, and because of legislation providing an instrument to separate out chosen (endogenous) versus forced (exogenous) firms of co-ownership. We find that land in co-ownership is much more likely to be used by less efficient firm organizations or to be left abandoned, and that it leads to significant welfare losses.

Sprache
Englisch

Erschienen in
Series: LICOS Discussion Paper ; No. 180

Klassifikation
Wirtschaft
Thema
Eigentumsrecht
Eigentümerstruktur
Grundbesitz
Wohlfahrtsanalyse
Schätzung
Bulgarien

Ereignis
Geistige Schöpfung
(wer)
Vranken, Liesbet
Macours, Karen
Noev, Nivelin
Swinnen, Johan
Ereignis
Veröffentlichung
(wer)
Katholieke Universiteit Leuven, LICOS Centre for Institutions and Economic Performance
(wo)
Leuven
(wann)
2007

Handle
Letzte Aktualisierung
10.03.2025, 11:43 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Arbeitspapier

Beteiligte

  • Vranken, Liesbet
  • Macours, Karen
  • Noev, Nivelin
  • Swinnen, Johan
  • Katholieke Universiteit Leuven, LICOS Centre for Institutions and Economic Performance

Entstanden

  • 2007

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