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Book/Printed Material Property rights and financial development the legacy of Japanese colonial institutions

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Title

  • Property rights and financial development the legacy of Japanese colonial institutions

Summary

  • "Several studies link modern economic performance to institutions transplanted by European colonizers and here we extend this line of research to Asia. Japan imposed its system of well-defined property rights in land on some of its Asian colonies, including Korea, Taiwan and Palau. In 1939 Japan began to survey and register private land in its island colonies, an effort that was completed in Palau but interrupted elsewhere by World War II. Within Micronesia robust economic development followed only in Palau where individual property rights were well defined. Second, we show that well-defined property rights in Korea and Taiwan secured land taxation and enabled farmers to obtain bank loans for capital improvements, principally irrigation systems. Our analytical model predicts that high costs of creating an ownership updating system and a citizen identity system discourage a short-sighted government from implementing these crucial components, the absence of which gradually makes land registration obsolete. Third, considering all of Japan's colonies, we use the presence or absence of a land survey as an instrument to identify the causal impact of new institutions. Our estimates show that property-defining institutions were important for economic development, results that are confirmed when using a similar approach with British Colonies in Asia"--National Bureau of Economic Research web site.

Names

  • Yoo, Dongwoo
  • Steckel, Richard H. (Richard Hall), 1944-
  • National Bureau of Economic Research

Created / Published

  • Cambridge, MA : National Bureau of Economic Research, c2010.

Notes

  • -  Title from PDF file as viewed on 3/24/2011.
  • -  Includes bibliographical references.
  • -  Also available in print.
  • -  Mode of access: World Wide Web.
  • -  System requirements: Adobe Acrobat Reader.

Call Number/Physical Location

  • HB1

Digital Id

Library of Congress Control Number

  • 2011655797

Access Advisory

  • Unrestricted online access

Online Format

  • image
  • pdf

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Citations are generated automatically from bibliographic data as a convenience, and may not be complete or accurate.

Chicago citation style:

Yoo, Dongwoo, Richard H Steckel, and National Bureau Of Economic Research. Property rights and financial development the legacy of Japanese colonial institutions. Cambridge, MA: National Bureau of Economic Research, 2010. Pdf. https://aj.sunback.homes/item/2011655797/.

APA citation style:

Yoo, D., Steckel, R. H. & National Bureau Of Economic Research. (2010) Property rights and financial development the legacy of Japanese colonial institutions. Cambridge, MA: National Bureau of Economic Research. [Pdf] Retrieved from the Library of Congress, https://aj.sunback.homes/item/2011655797/.

MLA citation style:

Yoo, Dongwoo, Richard H Steckel, and National Bureau Of Economic Research. Property rights and financial development the legacy of Japanese colonial institutions. Cambridge, MA: National Bureau of Economic Research, 2010. Pdf. Retrieved from the Library of Congress, <aj.sunback.homes/item/2011655797/>.