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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.
Beeps --- Corruption --- Investment --- Property Right Enforcement --- Rural Development
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International law --- Polemology --- History of civilization --- treaties --- international law --- cultural property --- protection [maintenance function] --- possession [property right]
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National wealth --- Law of real property --- Right of property --- #SBIB:35H435 --- #SBIB:33H011 --- #SBIB:33H13 --- Ownership of property --- Private ownership of property, Right of --- Private property, Right of --- Property, Right of --- Property rights --- Right of private ownership of property --- Right of private property --- Right to property --- Civil rights --- Property --- Beleidssectoren: economisch en werkgelegenheidsbeleid --- Economische geschiedenis --- Economische politiek --- Law and legislation --- Right of property.
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Law of real property --- Legal theory and methods. Philosophy of law --- Right of property. --- Droit de propriété --- Right of property --- Ownership of property --- Private ownership of property, Right of --- Private property, Right of --- Property, Right of --- Property rights --- Right of private ownership of property --- Right of private property --- Right to property --- Civil rights --- Property --- Law and legislation --- Droit de propriété
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Right of property --- -347.23 <4-11> --- Ownership of property --- Private ownership of property, Right of --- Private property, Right of --- Property, Right of --- Property rights --- Right of private ownership of property --- Right of private property --- Right to property --- Civil rights --- Property --- Eigendomsrecht--Oost-Europa --- Law and legislation --- 347.23 <4-11> Eigendomsrecht--Oost-Europa --- 347.23 <4-11>
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Property --- Right of property --- Ownership of property --- Private ownership of property, Right of --- Private property, Right of --- Property, Right of --- Property rights --- Right of private ownership of property --- Right of private property --- Right to property --- Civil rights --- Economics --- Possession (Law) --- Things (Law) --- Wealth --- Law and legislation --- Primitive property --- Droit européen
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The journal publishes papers presented at the annual Brigham-Kanner Property Rights Conference as well as other selected submissions.
Right of property --- Right of property. --- Ownership of property --- Private ownership of property, Right of --- Private property, Right of --- Property, Right of --- Property rights --- Right of private ownership of property --- Right of private property --- Right to property --- Civil rights --- Property --- Law and legislation
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Property --- Right of property --- Ownership of property --- Private ownership of property, Right of --- Private property, Right of --- Property, Right of --- Property rights --- Right of private ownership of property --- Right of private property --- Right to property --- Civil rights --- Economics --- Possession (Law) --- Things (Law) --- Wealth --- Law and legislation --- Property. --- Right of property. --- Primitive property
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Urban policy --- Right of property --- Politique urbaine --- Propriété --- Cities and state --- Urban problems --- City and town life --- Economic policy --- Social policy --- Sociology, Urban --- City planning --- Urban renewal --- Ownership of property --- Private ownership of property, Right of --- Private property, Right of --- Property, Right of --- Property rights --- Right of private ownership of property --- Right of private property --- Right to property --- Civil rights --- Property --- Law and legislation
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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.
Property --- Right of property --- 347.23 --- 347.23 Eigendomsrecht --- Eigendomsrecht --- Ownership of property --- Private ownership of property, Right of --- Private property, Right of --- Property, Right of --- Property rights --- Right of private ownership of property --- Right of private property --- Right to property --- Civil rights --- Economics --- Possession (Law) --- Things (Law) --- Wealth --- Law and legislation --- Property. --- Right of property. --- Primitive property --- Business, Economy and Management
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