Chapter

Land Titles, Credit Markets, and Wealth Distributions

James C. MacGee

in Personal Wealth from a Global Perspective

Published in print October 2008 | ISBN: 9780199548880
Published online January 2009 | e-ISBN: 9780191720765 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199548880.003.0016

Series: WIDER Studies in Development Economics

Land Titles, Credit Markets, and Wealth Distributions

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Does the existence of formal title to land and real estate matter for the distribution of wealth? This study reviews the empirical literature on the economic impact of land and real‐estate administration systems across countries. This study argues that a functioning credit market for secured credit is necessary to realize the full benefits of legal title to private real estate. This study also reviews quantitative economic theory on wealth distribution to assess the probable impact of different land‐registration systems on wealth inequality. The implication of current theory is that poor land‐administration systems may sometimes lead to lower levels of wealth inequality than better land‐registration systems.

Keywords: land titles; real estate; credit markets; wealth distribution

Chapter.  8772 words. 

Subjects: Economic Development and Growth

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