| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w17019 |
| 来源ID | Working Paper 17019 |
| The Value of Secure Property Rights: Evidence from Global Fisheries | |
| Corbett A. Grainger; Christopher Costello | |
| 发表日期 | 2011-05-05 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | Property rights are commonly touted as a solution to common pool resource problems. But in practice the security of these property rights varies substantially owing to differences in design. In fisheries, the design of individual transferable quotas (ITQs) varies widely; the consequences of these design differences on economic outcomes has not been studied. To test whether the security of these property rights affects asset values, we compile a unique dataset to examine the relationship between the exclusivity of property rights and the dividend price ratios for ITQs. We find evidence that stronger property rights lead to higher asset values and lower dividend price ratios in ITQ fisheries. This pecuniary effect of property rights security informs the current policy debate on the design of property rights institutions for managing natural resources. |
| 主题 | Financial Economics ; Portfolio Selection and Asset Pricing ; Other ; Economic Systems ; Environmental and Resource Economics ; Renewable Resources |
| URL | https://www.nber.org/papers/w17019 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/574693 |
| 推荐引用方式 GB/T 7714 | Corbett A. Grainger,Christopher Costello. The Value of Secure Property Rights: Evidence from Global Fisheries. 2011. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w17019.pdf（212KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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