Projektnummer

0056138

Zusammenfassung

Tropical deforestation, inter alia, spurred by market failure resulting from incomplete property right, is pervasive and has been observed to pose significant welfare loss in many of developing and emerging economies. Theoretical argument is rife that, compared to its rivals, common property right instrument appears superior on efficiency grounds to correct the problem. Partly as the result of this reason and a broader political decentralization spur, recent decades have seen a wave of its widespread adoption in the form of state-community property right arrangement in several developi...