Constitutional Property Rights Protection and Economic Growth: Evidence From the Post-Communist Transition

33 Pages Posted: 6 Feb 2012

See all articles by Christian Bjørnskov

Christian Bjørnskov

Aarhus University - Department of Economics and Business; Research Institute of Industrial Economics (IFN); Center for Political Studies; Institute for Corruption Studies

Date Written: February 6, 2012

Abstract

This paper seeks to estimate the economic growth effect of constitutional provisions for property rights protection. It does so using the unique situation in formerly communist countries in Central and Eastern Europe and the Caucasus where all but two introduced new constitutions after the fall of the Iron Curtain. The effects of implementing different constitutional provisions can therefore be observed in a group of countries with the same formal starting point. Estimates provide no evidence of positive effects and mainly point towards a negative conclusion: the introduction of constitutional protection of property rights is not associated with economic development in the long run, but tends to impose costs during a period of institutional transition and implementation proportional to the constitutional change.

Keywords: property rights, constitutional political economy, transition

JEL Classification: P16, P37, K40, O43

Suggested Citation

Bjørnskov, Christian, Constitutional Property Rights Protection and Economic Growth: Evidence From the Post-Communist Transition (February 6, 2012). Available at SSRN: https://ssrn.com/abstract=2000052 or http://dx.doi.org/10.2139/ssrn.2000052

Christian Bjørnskov (Contact Author)

Aarhus University - Department of Economics and Business ( email )

Fuglesangs Allé 4
Aarhus V, DK-8210
Denmark

Research Institute of Industrial Economics (IFN) ( email )

Box 55665
Grevgatan 34, 2nd floor
Stockholm, SE-102 15
Sweden

Center for Political Studies

Landgreven 3
Copenhagen K, DK-1301
Denmark

Institute for Corruption Studies

Stevenson Hall 425
Normal, IL 61790-4200
United States

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