Capitalizing property rights insecurity in natural resource assets

Journal of Environmental Economics and Management

Volumn 67, Issue 2, 2014, Pages 224-240

  Grainger, Corbett A ^a   Costello, Christopher J ^b,c,d  

^a UNIVERSITY OF WISCONSIN MADISON   (United States)

^b UNIVERSITY OF CALIFORNIA   (United States)

^c NATIONAL BUREAU OF ECONOMIC RESEARCH   (United States)

^d Lameta and University of Montpellier 1   (France)

Author keywords

Capitalization; Fisheries; Individual transferable quota; Institutions; Natural resources; Property rights

Indexed keywords

EID: 84894240846     PISSN: 00950696     EISSN: 10960449     Source Type: Journal    
DOI: 10.1016/j.jeem.2013.12.005     Document Type: Article

References (39)

1. Acemoglu Daron, Johnson Simon Unbundling institutions. Journal of Political Economy 2005, 113(5):949-995.
2. Alston Lee J., Libecap Gary D., Mueller Bernardo Land reform policies, the sources of violent conflict, and implications for deforestation in the Brazilian amazon. Journal of Environmental Economics and Management 2000, 39(2):162-188.
3. Alston Lee J., Libecap Gary D., Schneider Robert The determinants and impact of property rights. land titles on the Brazilian Frontier. Journal of Law, Economics, and Organization 1996, 12(1):25-61.
4. Alston, Lee J., Mueller, Bernardo, 2010. Property Rights, Land Conflict and Tenancy in Brazil. NBER Working Paper No. 15771.
5. Arnason, R. 2007. Property rights quality and economic efficiency of fisheries management regimes: some basic results. In: Advances in Fisheries Economics: Festschrift in Honour of Professor Gordon R. Munro, pp. 32-58.
6. Arnason, Ragnar, 2012. Property rights in fisheries: how much can individual transferable quotas accomplish? Review of Environmental Economics and Policy 6 (2), 217-236, http://dx.doi.org/10.1093/reep/res011.
7. Banerjee A.V., Gertler P.J., Ghatak M. Empowerment and efficiency. tenancy reform in West Bengal. Journal of Political Economy 2002, 110(2):239-280.
8. Barzel Y. Economic Analysis of Property Rights 1997, Cambridge University Press.
9. Batstone C.J., Sharp B.M. Minimum information management systems and ITQ fisheries management. Journal of Environmental Economics and Management 2003, 45(2):492-504.
10. Besley Tim Property rights and investment incentives. theory and evidence from Ghana. Journal of Political Economy 1995, 103(5):903-937.
11. Besley Tim, Burgess Robin Land reform, poverty reduction and growth. evidence from India. The Quarterly Journal of Economics 2000, 115(2):389-430.
12. Campbell J., Shiller R. The dividend-price ratio and expectations of future dividends and discount factors. Review of Financial Studies 1988, 1:195-227.
13. Clement & Associates, 2008. New Zealand Commercial Fisheries: The Guide to the Quota Management System. Clement & Associates, Tauranga.
14. Cochrane J. Explaining the variance of price-dividend ratios. Review of Financial Studies 1991, 5(2):243-280.
15. Costello Christopher, Gaines Steven D., Lynham John Can catch shares reverse fisheries collapse?. Science 2008, 321:1678-1681.
16. Costello Christopher, Kaffine Daniel Natural resource use with limited tenure property rights. Journal of Environmental Economics & Management 2008, 55(1):20-36.
17. Deacon Robert, Costello Christopher, Parker Dominic Reforming fisheries. lessons from a self-selected cooperative. Journal of Law and Economics 2013, 56:83-125.
18. Eggertsson T. Economic Behavior and Institutions 1990, Cambridge University Press, Cambridge.
19. Flintan, Fiona, Tamrat, Imeru, 2002. Spilling blood over water? The case of Ethiopa. In: Jeremy, Lind, Sturman, Kathryn (Eds.), Scarcity and Surfeit: The Ecology of Africa's Conflicts.
20. Fogel Robert William, Engerman Stanley L. Time on the Cross. The Economics of American Negro Slavery 1974, Brown Little, Boston.
21. Goldstein Markus, Udry Christopher The profits of power. land rights and agricultural investment in Ghana. Journal of Political Economy 2008, 116(6):981-1022.
22. Gordon H.Scott The economic theory of a common-property resource. the fishery. The Journal of Political Economy 1954, 62(2).
23. Grafton Quentin, Squires Dale, Fox Kevin J. Private property and economic efficiency. a study of a common-pool resource. The Journal of Law and Economics 2000, 43(2):679-714.
24. Hardin G. The Tragedy of the Commons. Science 1968, 162:1243-1248.
25. Homans Frances R., Wilen James E. A model of regulated open access resource use. Journal of Environmental Economics and Management 1997, 32(1):1-21.
26. Imbens G., Kalyanaraman K. Optimal bandwidth choice for the regression discontinuity estimator. The Review of Economic Studies 2012, 79(3):933-959.
27. Jacoby Hanan G., Guo Li, Rozelle Scott Hazards of Expropriation. Tenure Insecurity and Investment in Rural China. American Economic Review 2002, 92(5):1420-1447.
28. Johnson Ronald N., Gisser Micha, Werner Michael The definition of a surface water right and transferability. Journal of Law and Economics 1981, 24:273-278.
29. Libecap Gary D. Locking Up the Range. Federal Land Controls and Grazing 1981, Ballinger, Cambridge, MA.
30. Liscow, Zachary. Do property rights promote investment but cause deforestation? quasi-experimental evidence from Nicaragua. Journal of Environmental Economics and Management, http://dx.doi.org/10.1016/j.jeem.2012.07.001, in press.
31. Mehra Rajnish, Prescott Edward C. The equity premium. a puzzle (PDF). Journal of Monetary Economics 1985, 15(2):145-161.
32. Newell Richard, Kerry Papps, Sanchirico James N. Asset pricing in created markets for fishing quota. American Journal of Agricultural Economics 2007, 89(2):259-272.
33. Newell Richard, Sanchirico James N., Kerr Suzi Fishing quota markets. Journal of Environmental Economics and Management 2005, 49(3):437-462.
34. Poterba James. House price dynamics. the role of tax policy and demography. Brookings Papers on Economic Activity 1991, 2:143-203.
35. Rees, Eugene, 2005. In What Sense a Fisheries Problem? Negotiating Sustainable Growth in New Zealand's Fisheries (Ph.D. Dissertation). The University of Auckland, New Zealand.
36. Rucker Randal R., Thurman Walter N., Sumner Daniel A. Restricting the market for quota. an analysis of tobacco production rights with corroboration from congressional testimony. The Journal of Political Economy 1995, 103(1):142-175.
37. Watts Myles J., LaFrance Jeffrey T. Cows, cowboys, and controversy. the grazing fee issue. Multiple Conflicts Over Multiple Uses 1994, PERC, Bozeman, MT. T.L. Anderson (Ed.).
38. Worm Boris, Barbier Edward B., Beaumont Nicola, Duffy J.Emmett, Folke Carl, Halpern Benjamin S., Jackson Jeremy B.C., Lotze Heike K., Micheli Fiorenza, Palumbi Stephen R., Sala Enric, Selkoe Kimberley A., Stachowicz John J., Watson Reg Impacts of biodiversity loss on ocean ecosystem services. Science 2006, 314(5800):787-790.
39. Zitzewitz, E. Forensic economics. Journal of Economic Literature, http://dx.doi.org/10.1257/jel.50.3.731, in press.