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9 - Conclusion

Published online by Cambridge University Press:  22 December 2020

Michael Albertus
Affiliation:
University of Chicago
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Summary

The concluding chapter discusses limitations to the property rights paradigm. Neoliberal property rights are not a cure-all for rural development. There is an emerging consensus from the United Nations, World Bank, and FAO on the need for more context-specific property rights and international guidelines on how to respect, record, and strengthen such rights, especially customary rights. The conclusion then shows how the book’s theory speaks to the broader relationship between politics and markets beyond land and redistribution. States can generate new markets or enable the rise of markets, or new markets can arise organically. A government can then choose whether, and how, to delineate and protect property rights in those markets. Like with property rights in land, a country’s political institutions (democracy vs. dictatorship) as well as government coalitional dynamics (between elite factions and citizens) and foreign pressure determine property rights regimes. The conclusion applies to the evolution of subsoil property rights over oil in Mexico, subsoil mining rights for mineral natural resources in the United States, and property rights in the banking sector in Venezuela.

Type
Chapter
Information
Property without Rights
Origins and Consequences of the Property Rights Gap
, pp. 310 - 334
Publisher: Cambridge University Press
Print publication year: 2021

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  • Conclusion
  • Michael Albertus, University of Chicago
  • Book: Property without Rights
  • Online publication: 22 December 2020
  • Chapter DOI: https://doi.org/10.1017/9781108891950.009
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  • Conclusion
  • Michael Albertus, University of Chicago
  • Book: Property without Rights
  • Online publication: 22 December 2020
  • Chapter DOI: https://doi.org/10.1017/9781108891950.009
Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • Conclusion
  • Michael Albertus, University of Chicago
  • Book: Property without Rights
  • Online publication: 22 December 2020
  • Chapter DOI: https://doi.org/10.1017/9781108891950.009
Available formats
×