Publication:
Urbanization and Property Rights

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dc.contributor.authorCai, Yongyang
dc.contributor.authorSelod, Harris
dc.contributor.authorSteinbuks, Jevgenijs
dc.date.accessioned2015-12-18T20:01:45Z
dc.date.available2015-12-18T20:01:45Z
dc.date.issued2015-11
dc.description.abstractSince the industrial revolution, the economic development of Western Europe and North America was characterized by continuous urbanization accompanied by a gradual phasing-in of urban land property rights over time. Today, however, the evidence in many fast urbanizing low-income countries points towards a different trend of “urbanization without formalization”, with potentially adverse effects on long-term economic growth. This paper aims to understand the causes and the consequences of this phenomenon, and whether informal city growth could be a transitory or a persistent feature of developing economies. A dynamic stochastic equilibrium model of a representative city is developed, which explicitly accounts for the joint dynamics of land property rights and urbanization. The calibrated baseline model describes a city that first grows informally, with the growth of individual incomes leading to a phased-in purchase of property rights in subsequent periods. The model demonstrates that land tenure informality does not necessarily vanish in the long term, and the social optimum does not necessarily imply a fully formal city, neither in the transition, nor in the long run. The welfare effects of policies, such as reducing the cost of land tenure formalization, or protecting informal dwellers against evictions are subsequently investigated, throughout the short-term transition and in the long-term stationary state.en
dc.identifierhttp://documents.worldbank.org/curated/en/2015/11/25260752/urbanization-property-rights
dc.identifier.doi10.1596/1813-9450-7486
dc.identifier.urihttps://hdl.handle.net/10986/23450
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper;No. 7486
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectSTATE LAW
dc.subjectINSTITUTIONAL REFORMS
dc.subjectEMPLOYMENT
dc.subjectINSTITUTIONAL CHANGE
dc.subjectCITY SIZE
dc.subjectSQUATTERS
dc.subjectLAND TRANSACTIONS
dc.subjectLAND MARKET
dc.subjectLOW-INCOME HOUSEHOLDS
dc.subjectPROPERTY RIGHT
dc.subjectLOCAL AUTHORITIES
dc.subjectURBANIZATION
dc.subjectWAGES
dc.subjectURBAN GROWTH
dc.subjectEXHIBITS
dc.subjectPARTICIPATION
dc.subjectINCOME
dc.subjectINTEREST
dc.subjectUTILITIES
dc.subjectVALUE
dc.subjectLAWS
dc.subjectBANK
dc.subjectURBAN CONGESTION
dc.subjectINDUSTRY
dc.subjectCREDIT
dc.subjectMACROECONOMICS
dc.subjectINSTITUTIONAL QUALITY
dc.subjectLARGE CITIES
dc.subjectLOCAL GOVERNMENTS
dc.subjectSTRATEGIES
dc.subjectREPORTS
dc.subjectPOLITICAL ECONOMY
dc.subjectHOUSING
dc.subjectHOUSEHOLD
dc.subjectCAPITALIZATION
dc.subjectLAND PROPERTY
dc.subjectPROPERTY
dc.subjectURBAN LAND
dc.subjectPRICING
dc.subjectHABITAT
dc.subjectTRANSACTION COSTS
dc.subjectRURAL URBAN MIGRATION
dc.subjectCITIES
dc.subjectURBAN POOR
dc.subjectLAND TENURE
dc.subjectURBAN DEVELOPMENT
dc.subjectECONOMICS
dc.subjectLAND PRICES
dc.subjectLAND TITLE
dc.subjectGOVERNANCE
dc.subjectPOVERTY REDUCTION
dc.subjectTAXATION
dc.subjectSLUMS
dc.subjectSETTLEMENTS
dc.subjectPRESENT VALUE
dc.subjectPUBLIC POLICY
dc.subjectLAND
dc.subjectSTATES
dc.subjectLAND TITLING
dc.subjectINCOME ELASTICITY
dc.subjectRISK
dc.subjectURBAN ECONOMY
dc.subjectTRANSPORT
dc.subjectRURAL AREAS
dc.subjectFIXED COSTS
dc.subjectPRODUCTIVITY
dc.subjectEXTERNALITIES
dc.subjectMIGRATION
dc.subjectBUILDING
dc.subjectCRITERIA
dc.subjectMARKETS
dc.subjectLEGISLATION
dc.subjectFEES
dc.subjectINSTITUTIONAL FRAMEWORK
dc.subjectLABOR
dc.subjectGOVERNMENTS
dc.subjectURBAN POPULATION
dc.subjectLAND VALUE
dc.subjectLAND MANAGEMENT
dc.subjectREAL ESTATE
dc.subjectFINANCE
dc.subjectECONOMIC CONDITIONS
dc.subjectPUBLIC
dc.subjectLAND USE
dc.subjectLAND ADMINISTRATION
dc.subjectLAND GRABBERS
dc.titleUrbanization and Property Rightsen
dc.typeWorking Paperen
dc.typeDocument de travailfr
dc.typeDocumento de trabajoes
dspace.entity.typePublication
okr.crossref.titleUrbanization and Property Rights
okr.date.disclosure2015-11-10
okr.date.doiregistration2025-04-10T10:07:05.132711Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2015/11/25260752/urbanization-property-rights
okr.guid827371467999377785
okr.identifier.doi10.1596/1813-9450-7486
okr.identifier.externaldocumentum090224b0831a9c6a_2_0
okr.identifier.internaldocumentum25260752
okr.identifier.reportWPS7486
okr.importedtrue
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2015/11/10/090224b0831a9c6a/2_0/Rendered/PDF/Urbanization0and0property0rights.pdfen
okr.topicUrban Development::Urban Housing
okr.topicUrban Development::Urban Governance and Management
okr.topicPublic Sector Development::Public Sector Management and Reform
okr.unitEnvironment and Energy Team, Development Research Group
relation.isAuthorOfPublicationb820a7e2-dfb8-5b00-911b-d8822f6724cc
relation.isAuthorOfPublication.latestForDiscoveryb820a7e2-dfb8-5b00-911b-d8822f6724cc
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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