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Institutional Foundations of Impersonal Exchange
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Institutional Foundations of Impersonal Exchange: Theory and Policy of Contractual Registries

Benito Arrunada

Abstract

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 disappoi ... More

Keywords: development agencies, company registries, property rights, collateral, credit, firms, entrepreneurs, developed countries, organizational requirements, transaction costs

Bibliographic Information

Print publication date: 2012 Print ISBN-13: 9780226028323
Published to Chicago Scholarship Online: September 2013 DOI:10.7208/chicago/9780226028354.001.0001

Authors

Affiliations are at time of print publication.

Benito Arrunada, author