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Uncertainty as a Factor in Investment Decisions : The Case of the Russian Federation's Regions
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Year: 2016 Publisher: Washington, D.C. : The World Bank,

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Abstract

This paper argues that although the bulk of the literature tends to focus on regulatory uncertainty stemming from formal practices, uncertainty that comes from unpredictable informal practices surrounding regulation is an underexplored additional form of regulatory uncertainty. The paper uses the results of empirical analysis of several unique firm-level data sets to argue that firms in Russian institutional environments adapt to informal practices of business-government interactions, so long as these practices are predictable. The paper draws a distinction between differences in levels of relatively well-ordered (and often centralized) and therefore predictable corruption-a predictable component of the cost of doing business-and variation in experiences with corruption, which often results from decentralized, unconstrained ("administrative") corruption and the rent-seeking incentives of lower level officials. It argues that a significant obstacle to investment decisions at the regional level is not so much formal or informal rules per se, but lack of predictability of their application. It also examines in-country inconsistency in property rights enforcement as another source of underexplored regulatory uncertainty tied to informal practice. Unlike administrative corruption, inconsistent property rights enforcement is a fundamental, existential threat to businesses. To test this hypothesis, the paper draws on a measure that captures private "raiders" attacks on firms-hostile, often violent takeovers of firms by outsiders aided and often abetted by law enforcement agencies. The paper argues that the greater is the number of raider attacks for a given region, the greater is the uncertainty and the less likely is investment.


Multi
Safeguarding cultural property and the 1954 Hague Convention : all possible steps
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ISBN: 9781783276660 9781800104273 Year: 2022 Publisher: Woodbridge The Boydell Press

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The right to private property
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ISBN: 0198249594 9780198249597 Year: 1988 Publisher: Oxford Clarendon

European and national property law : osmosis or growing antagonism?
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ISBN: 9789076871745 Year: 2006 Volume: 6 Publisher: Groningen Europa law publishing


Periodical
Brigham-Kanner Property Rights Conference journal.
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ISSN: 23267453 Year: 2012 Publisher: Williamsburg, VA : Property Rights Project of William & Mary Law School, College of William & Mary,

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Abstract

The journal publishes papers presented at the annual Brigham-Kanner Property Rights Conference as well as other selected submissions.


Book
Fragmented Brussels and consolidated Amsterdam : a comparative study of the spatial organization of property rights
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ISBN: 906809243X Year: 1997 Publisher: Amsterdam : Netherlands Geographical Society : Dept. of Human Geography, Faculty of Environmental Sciences, University of Amsterdam,

Economic analysis of property rights
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ISBN: 0521597137 0521592755 1316046265 0511609396 9780521597135 9780521592758 Year: 1997 Publisher: Cambridge : Cambridge University Press,

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This is a study of the way individuals organise the use of resources in order to maximise the value of their economic rights over these resources. Property rights and all forms of organisation result from people's deliberate actions. In the tradition of Coase, this study offers a unified theoretical structure to deal with exchange, rights formation and organisation which traditional economic theory assumes away. A person's economic property rights over an asset are defined here as the person's ability to gain from the asset by direct consumption or by exchange. It is prohibitively costly to measure accurately all assets' attributes; therefore, rights to them are never fully delineated. Property is consequently in danger of appropriation by others. Individuals enhance their rights by such actions as the protection and better delineation of their assets. In this new edition, Professor Barzel introduces the central role of equity capital as a guarantor of the activities of the firm and elaborates on the distinction between economic rights and legal rights.


Book
Bitter harvest : antecedents and consequences of property reforms in post-socialist Poland
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ISBN: 1299463010 0739165151 9780739165157 0739165143 0739165135 9780739165133 9780739165140 9781299463011 Year: 2013 Publisher: Lanham : Lexington Books,

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This book links political and economic sociology examining how post-socialist property changes are rooted in the socialist past and how they relate to the meaning and practices of transition states and their capacity for sustainable economic development. It raises the issue of the applicability of Western institutions in the Eastern European context and the implications for the contemporary politics of European integration in which E.U. politics aim to smooth over the many divergences of its members.


Book
Property law perspectives IV
Authors: --- --- --- ---
ISBN: 1780687206 1780683707 9781780683706 Year: 2016 Publisher: Cambridge : Intersentia,

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Property Law Perspectives IV contains a selection of the papers presented at the fifth meeting of the Young Property Lawyers Forum (YPLF), which took place at Wadham College, Oxford, in 2014. The YPLF is an informal, international network of property law researchers, which is primarily aimed at junior scholars. The papers presented at the YPLF are representative of the rapid developments currently taking place in property law scholarship, particularly in connection with EU law, environmental law, and internet law. Property Law Perspectives IV shows that attention is still being paid to the roots of property law. The papers in this volume take us on legal and historical journeys, exploring basic principles and well-known concepts of property law, such as the prior tempore rule, expropriation, proprietary security, and the rules on acquisitive and extinctive prescription. The wide variety of topics and jurisdictions discussed make this book a fascinating read for anyone interested in property law.

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