This setting lets you change the way you view articles. You can choose to have articles open in a dialog window, a new tab, or directly in the same window.
Open in Dialog
Open in New Tab
Open in same window

Journal of Economic Perspectives: Vol. 10 No. 2 (Spring 1996)

JEP Volume. 10, Issue 2 | leftPrevious ArticleNext Articleright

Expand

Quick Tools:

Print Article Summary Email Link to this Article Export Citation
Sign up for Email Alerts Follow us on Twitter

Explore:

JEP - All Issues


The Roles of the State and the Market in Establishing Property Rights

Article Citation

Rapaczynski, Andrzej. 1996. "The Roles of the State and the Market in Establishing Property Rights." Journal of Economic Perspectives, 10(2): 87-103.

DOI: 10.1257/jep.10.2.87

Abstract

Using the experiences of Eastern Europe as an example, this article argues that, contrary to the economists' assumption that property rights are a precondition of a market economy, market institutions are often a prerequisite for a viable private property regime. Progress in the development of complex property rights in Eastern Europe, thus, cannot be expected to come primarily from a perfection of the legal system. Instead, it is more likely to arise as a market response to the demand for property rights. Indeed, legal entitlements can only be expected to become effective against a background of self-enforcing market mechanisms.

Article Full-Text Access

Full-text Article (Complimentary)

Authors

Rapaczynski, Andrzej (Columbia U)

JEL Classifications

D23: Organizational Behavior; Transaction Costs; Property Rights
P21: Socialist Systems and Transitional Economies: Planning, Coordination, and Reform
P26: Socialist Systems and Transitional Economies: Political Economy; Property Rights

Comments

View Comments on This Article (0) | Login to post a comment


Journal of Economic Perspectives



AEA Member Login:


Quick Tools:

Email Link to this Issue

Sign up for Email Alerts

Follow us on Twitter

Subscription Information
(Institutional Administrator Access)

Explore:

JEP - All Issues

AEA Journals

Virtual Field Journals

AEAweb | AEA Journals | Contact Us