The Value of Secure Property Rights: Evidence from Global Fisheries

Posted: May 9, 2011 | Author: Daniel J. Smith | Filed under: Common Pool Resources, Private Property, Public Goods, Tragedy of the Commons | Leave a comment »

http://papers.nber.org/papers/w17019#fromrss

Property Rights and Financial Development: The Legacy of Japanese Colonial Institutions

Posted: November 29, 2010 | Author: Daniel J. Smith | Filed under: Private Property | Leave a comment »

http://papers.nber.org/papers/w16551#fromrss

Property rights protection and corporate R&D: Evidence from China

Posted: June 1, 2010 | Author: Daniel J. Smith | Filed under: Economic Freedom, Economic Growth, Private Property | Leave a comment »

Following the recent literature on institutions and economic growth, we examine the effects of property rights protection on corporate R&D. Using a unique 2003 World Bank survey of over 2400 firms in 18 Chinese cities, we obtain the following findings: (1) property rights protection is positively and significantly related to corporate R&D activity (for both process and product R&D); (2) government services and helping hand are conducive to corporate R&D, while informal payments to government officials are not; and (3) government ownership of firms and direct appointment of CEOs are negatively associated with corporate R&D activities. We also find that corporate R&D is positively related to firm size, and access to finance, but negatively related to product market competition and firm age.

http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B6VBV-4W9XBHG-2&_user=10&_coverDate=09/30/2010&_rdoc=1&_fmt=high&_orig=search&_sort=d&_docanchor=&view=c&_acct=C000050221&_version=1&_urlVersion=0&_userid=10&md5=5e371bd677496b17464b8cab260b2462