Property Rights, Political Connections, and Corporate Investment

Property Rights, Political Connections, and Corporate Investment

Despite the literature on rural land property rights, studies on urban land property rights are rare. This paper studies the impact of an urban land titling program on firm investment. It finds that the program leads to increased investment rate fo...

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Bibliographic Details
Main Authors: Miao, Meng, Tang, Dragon Yongjun, Xu, Lixin Colin
Format: Working Paper
Language:English
Published: World Bank, Washington, DC 2019
Subjects:
PROPERTY RIGHTS
POLITICAL CONNNECTIONS
POLITICAL ECONOMY
CORRUPTION
INVESTMENT
REGULATION
REGULATORY OVERSIGHT
URBAN LAND TITLING
Online Access:http://documents.worldbank.org/curated/en/734901565612391204/Property-Rights-Political-Connections-and-Corporate-Investment
http://hdl.handle.net/10986/32266
id okr-10986-32266
recordtype oai_dc
spelling okr-10986-322662022-09-05T00:22:55Z Property Rights, Political Connections, and Corporate Investment Miao, Meng Tang, Dragon Yongjun Xu, Lixin Colin PROPERTY RIGHTS POLITICAL CONNNECTIONS POLITICAL ECONOMY CORRUPTION INVESTMENT REGULATION REGULATORY OVERSIGHT URBAN LAND TITLING Despite the literature on rural land property rights, studies on urban land property rights are rare. This paper studies the impact of an urban land titling program on firm investment. It finds that the program leads to increased investment rate for titling firms, and the positive effect holds only for politically connected firms. The effects are likely causal, because they are more pronounced for firms that are more likely to benefit from strengthened property rights. Connected titling firms experienced fewer disputes than nonconnected titling firms after the program, and the results remain robust when using instrumental variable estimation. 2019-08-16T14:54:13Z 2019-08-16T14:54:13Z 2019-08 Working Paper http://documents.worldbank.org/curated/en/734901565612391204/Property-Rights-Political-Connections-and-Corporate-Investment http://hdl.handle.net/10986/32266 English Policy Research Working Paper;No. 8973 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Policy Research Working Paper East Asia and Pacific China
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic PROPERTY RIGHTS
POLITICAL CONNNECTIONS
POLITICAL ECONOMY
CORRUPTION
INVESTMENT
REGULATION
REGULATORY OVERSIGHT
URBAN LAND TITLING
spellingShingle PROPERTY RIGHTS
POLITICAL CONNNECTIONS
POLITICAL ECONOMY
CORRUPTION
INVESTMENT
REGULATION
REGULATORY OVERSIGHT
URBAN LAND TITLING
Miao, Meng
Tang, Dragon Yongjun
Xu, Lixin Colin
Property Rights, Political Connections, and Corporate Investment
geographic_facet East Asia and Pacific
China
relation Policy Research Working Paper;No. 8973
description Despite the literature on rural land property rights, studies on urban land property rights are rare. This paper studies the impact of an urban land titling program on firm investment. It finds that the program leads to increased investment rate for titling firms, and the positive effect holds only for politically connected firms. The effects are likely causal, because they are more pronounced for firms that are more likely to benefit from strengthened property rights. Connected titling firms experienced fewer disputes than nonconnected titling firms after the program, and the results remain robust when using instrumental variable estimation.
format Working Paper
author Miao, Meng
Tang, Dragon Yongjun
Xu, Lixin Colin
author_facet Miao, Meng
Tang, Dragon Yongjun
Xu, Lixin Colin
author_sort Miao, Meng
title Property Rights, Political Connections, and Corporate Investment
title_short Property Rights, Political Connections, and Corporate Investment
title_full Property Rights, Political Connections, and Corporate Investment
title_fullStr Property Rights, Political Connections, and Corporate Investment
title_full_unstemmed Property Rights, Political Connections, and Corporate Investment
title_sort property rights, political connections, and corporate investment
publisher World Bank, Washington, DC
publishDate 2019
url http://documents.worldbank.org/curated/en/734901565612391204/Property-Rights-Political-Connections-and-Corporate-Investment
http://hdl.handle.net/10986/32266
_version_ 1764476184264966144

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