Lanjouw, Jean Olson; Levy, Philip I. - 1998
In this paper we explore the substitutability of formal and informal property rights. We analyze new survey data from … rent land in which a distinction is drawn between transferable property rights (e.g., title) and non-transferable claims (e … granting title is to raise properties' value by 23.5%. However, we also find that informal property rights can substitute …