Institutional Foundations of Impersonal Exchange

Theory and Policy of Contractual Registries

Business & Finance, Economics, Microeconomics, Theory of Economics
Cover of the book Institutional Foundations of Impersonal Exchange by Benito Arruñada, University of Chicago Press
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Benito Arruñada ISBN: 9780226028354
Publisher: University of Chicago Press Publication: September 15, 2012
Imprint: University of Chicago Press Language: English
Author: Benito Arruñada
ISBN: 9780226028354
Publisher: University of Chicago Press
Publication: September 15, 2012
Imprint: University of Chicago Press
Language: English

Governments and development agencies spend considerable resources building property and company registries to protect property rights. When these efforts succeed, owners feel secure enough to invest in their property and banks are able use it as collateral for credit. Similarly, firms prosper when entrepreneurs can transform their firms into legal entities and thus contract more safely. Unfortunately, developing registries is harder than it may seem to observers, especially in developed countries, where registries are often taken for granted. As a result, policies in this area usually disappoint.  

Benito Arruñada aims to avoid such failures by deepening our understanding of both the value of registries and the organizational requirements for constructing them. Presenting a theory of how registries strengthen property rights and reduce transaction costs, he analyzes the major trade-offs and proposes principles for successfully building registries in countries at different stages of development. Arruñada focuses on land and company registries, explaining the difficulties they face, including current challenges like the subprime mortgage crisis in the United States and the dubious efforts made in developing countries toward universal land titling. Broadening the account, he extends his analytical framework to other registries, including intellectual property and organized exchanges of financial derivatives. With its nuanced presentation of the theoretical and practical implications, Institutional Foundations of Impersonal Exchange significantly expands our understanding of how public registries facilitate economic growth.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Governments and development agencies spend considerable resources building property and company registries to protect property rights. When these efforts succeed, owners feel secure enough to invest in their property and banks are able use it as collateral for credit. Similarly, firms prosper when entrepreneurs can transform their firms into legal entities and thus contract more safely. Unfortunately, developing registries is harder than it may seem to observers, especially in developed countries, where registries are often taken for granted. As a result, policies in this area usually disappoint.  

Benito Arruñada aims to avoid such failures by deepening our understanding of both the value of registries and the organizational requirements for constructing them. Presenting a theory of how registries strengthen property rights and reduce transaction costs, he analyzes the major trade-offs and proposes principles for successfully building registries in countries at different stages of development. Arruñada focuses on land and company registries, explaining the difficulties they face, including current challenges like the subprime mortgage crisis in the United States and the dubious efforts made in developing countries toward universal land titling. Broadening the account, he extends his analytical framework to other registries, including intellectual property and organized exchanges of financial derivatives. With its nuanced presentation of the theoretical and practical implications, Institutional Foundations of Impersonal Exchange significantly expands our understanding of how public registries facilitate economic growth.

More books from University of Chicago Press

Cover of the book Articulating the World by Benito Arruñada
Cover of the book Trade and Employment in Developing Countries, Volume 1 by Benito Arruñada
Cover of the book Not Just Roommates by Benito Arruñada
Cover of the book A Fragile Life by Benito Arruñada
Cover of the book Sound Reporting by Benito Arruñada
Cover of the book Making an Issue of Child Abuse by Benito Arruñada
Cover of the book Poverty and the Quest for Life by Benito Arruñada
Cover of the book You Feel So Mortal by Benito Arruñada
Cover of the book Scenescapes by Benito Arruñada
Cover of the book The Reformation of Emotions in the Age of Shakespeare by Benito Arruñada
Cover of the book Demolition Means Progress by Benito Arruñada
Cover of the book Seven Ways of Looking at Pointless Suffering by Benito Arruñada
Cover of the book The Tewa World by Benito Arruñada
Cover of the book History Within by Benito Arruñada
Cover of the book Elephant Memories by Benito Arruñada
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy