| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w29889 |
| 来源ID | Working Paper 29889 |
| Credit Markets, Property Rights, and the Commons | |
| Frederik Noack; Christopher Costello | |
| 发表日期 | 2022-03-28 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | Credit markets and property rights are fundamental for modern economies, but they also have implications for the commons. Using a dynamic model of competitive resource extraction, we show that improving property right security unambiguously increases conservation incentives, but the effect of credit markets on resource extraction effort hinges on the security of property rights. We test these predictions using data on global fisheries, credit markets, and the largest-ever marine property rights assignment. We find that property right security reduces resource extraction, while credit market development increases resource extraction under insecure property rights but reduces resource extraction under secure property rights. |
| 主题 | Public Economics ; Environmental and Resource Economics ; Renewable Resources |
| URL | https://www.nber.org/papers/w29889 |
| 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/587561 |
| 推荐引用方式 GB/T 7714 | Frederik Noack,Christopher Costello. Credit Markets, Property Rights, and the Commons. 2022. |
| 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 | ||
| w29889.pdf（653KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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