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• W130788314 abstract "While property rights are important to the market order, the transformation of common pool resources into private property through privatization has achieved mixed results. We argue that the so-called “Washington Consensus” failed not because of intentions or intelligence, but because most economists have failed to appreciate that property rights are emergent institutions. Instead, much of the work in development treats property rights like an exportable good. In this paper, we use evidence from the postcommunist transition to provide preliminary evidence that countries that used direct auctioning to allocate property rights following transition outperformed other methods of privatization." @default.
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• W130788314 date "2011-05-01" @default.
• W130788314 modified "2023-09-26" @default.
• W130788314 title "Emergent versus Directed Property Rights: Evidence fromTransition Economies" @default.
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