North versus south the impact of social norms in the market pricing of private property rights in viet nam
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North versus south the impact of social norms in the market pricing of private property rights in viet nam
North versus South:the impact of social norms in the market pricing of private property rights in Vietnaman article later published 111 World Developm North versus south the impact of social norms in the market pricing of private property rights in viet nam ment39261ByAnnette M. K1111Department of Urban Studies and Planning Massachusetts Institute of Technology 77 Massachusetts AvenueRoom 9-539Cambridge. MA 02139Email: annette@mit.eduElectron-c copy available fit: h.tp.//ssm corn/abstrastM660750North versus South:the impact of social norms ill the mark North versus south the impact of social norms in the market pricing of private property rights in viet nam et pricing of private property rights in VietnamSumman':Despite a centralized political system, nation-wide legal reforms, and similar high housing deNorth versus south the impact of social norms in the market pricing of private property rights in viet nam
mand pressures, property rights have evolved differently in Vietnam's two leading cities Hanoi and Ho Chi Minh City dining the transition period. UsinNorth versus South:the impact of social norms in the market pricing of private property rights in Vietnaman article later published 111 World Developm North versus south the impact of social norms in the market pricing of private property rights in viet nam erent price structures indicate the importance of norms, as socially constructed by local political interests and culture. Ill the efficacy of land title regular ization programs.Key words: Asia. Vietnam, property rights, housing market, social nonns, land temueElectronic copy aváítóblo et: i- tpy/s North versus south the impact of social norms in the market pricing of private property rights in viet nam smcom/abst'act-1680750AcknowledgementsThis study benefited fiom the financial assistance of the Fulbiight Commission, the Lincoln Institute of Land PoNorth versus south the impact of social norms in the market pricing of private property rights in viet nam
licy, the World Bank, and M.I.T.’s Humanities and Social Sciences giant. Many people assisted the fieldwork, but this study would not have been possibNorth versus South:the impact of social norms in the market pricing of private property rights in Vietnaman article later published 111 World Developm North versus south the impact of social norms in the market pricing of private property rights in viet nam ddition, colleagues Lawrence Susskind. Lynn Fisher, and colleagues in the Comparative Law and Economics Group, in particular Katharina Pistor and Susan Rose-Ackerman, gave helpfill comments U1 the development of this article. However, all the views expressed are solely those of the author.Electron!! North versus south the impact of social norms in the market pricing of private property rights in viet nam )s://ssm.com/abstract= 16807511. INTRODUCTION:For decades, international development agencies and governments have pursued land tenure regularizationNorth versus south the impact of social norms in the market pricing of private property rights in viet nam
projects 111 hopes of bolstering private property rights enough to unleash wealth generating investment into land and housing markets. Their record ofNorth versus South:the impact of social norms in the market pricing of private property rights in Vietnaman article later published 111 World Developm North versus south the impact of social norms in the market pricing of private property rights in viet nam ruff. 2001). However, the support for these programs by many has not flagged but only strengthened in recent years (deSoto. 2000)1.Previous scholarship has tried to accoiuit for the mixed outcomes by debating the relationship between tenure security and legal titles. In some contexts, the impact of North versus south the impact of social norms in the market pricing of private property rights in viet nam title programs may be limited because households invest in property without title in hopes of having stronger claims for tenure later (Razzaz. 1993).North versus south the impact of social norms in the market pricing of private property rights in viet nam
Alternatively, it could be that the efficacy of title IS unrealized without also strengthening legal enforcement and financial institutions (McKechnieNorth versus South:the impact of social norms in the market pricing of private property rights in Vietnaman article later published 111 World Developm North versus south the impact of social norms in the market pricing of private property rights in viet nam t choose to participate in the real estate market (Lanjouw & Lexy. 2002). Most developing and transition countries exhibit a range of title formalization and market development even without fully developed coiuts and financial institutions (Li. 1999; Zhu. 2002). Irregularity of titles appears to be North versus south the impact of social norms in the market pricing of private property rights in viet nam a hindrance in some markets more than others.The classic theory for explaining the evolution of legal private property rights systems counted the costNorth versus south the impact of social norms in the market pricing of private property rights in viet nam
s and benefits (Demsetz. 1967). The market would create the demand for title if a sufficiently large net economic gain could be generated by such a chNorth versus South:the impact of social norms in the market pricing of private property rights in Vietnaman article later published 111 World Developm North versus south the impact of social norms in the market pricing of private property rights in viet nam https://ssm.comlfabstract=1680750which society counts the costs and benefits and the form that new property rights take as a result have been left unanswered (Merrill. 2002).In trying to understand why some societies are more responsive to title reforms. more recent institutional economics scholarsh North versus south the impact of social norms in the market pricing of private property rights in viet nam ip is helpful in indicating that underneath the interestbased enforcement of lilies and laws are micro-foundation institutions such as norms, beliefs,North versus south the impact of social norms in the market pricing of private property rights in viet nam
and culture that shape the motivation for following rule-based institutions: that IS the reason the enforcers enforce the rules (Greif. 2006). Inter-North versus South:the impact of social norms in the market pricing of private property rights in Vietnaman article later published 111 World Developm North versus south the impact of social norms in the market pricing of private property rights in viet nam ularly in smaller communities (Ellickson, 1991; Levmoie. 2002; Ostrom. 1990).Sociologists have long theorized and debated how politics and culture work together in the process of socially constructing economic institutions. While some institutions are external to the agents, coming 111 the form of l North versus south the impact of social norms in the market pricing of private property rights in viet nam aws and policies that might sen e the interests of the powerfill (Bourdieu. 1977; Buiawoy. 2001) they must also be internalized cognitively by the ageNorth versus south the impact of social norms in the market pricing of private property rights in viet nam
nts 111 wider society and habitual tzed into routine practices to the point that they are made normal and embedded into the institutional fabric of soNorth versus South:the impact of social norms in the market pricing of private property rights in Vietnaman article later published 111 World Developm North versus south the impact of social norms in the market pricing of private property rights in viet nam utions are internalized and externalized. There is perennial debate as to how much agency exists within the structures. but agreement that rather than viewing society as a rational actor that chooses the most efficient institutional design, economic institutions such as property rights are built thr North versus south the impact of social norms in the market pricing of private property rights in viet nam ough this social construction process (Berger & Luckman. 1967).In order to better accoiuit for the institutional outcomes, case studies have been usedNorth versus south the impact of social norms in the market pricing of private property rights in viet nam
to detail the social construction process of electricity pricing (Yakubovich. Granovettei. & McGuire. 2005). the high tech-industry in Silicon ValleyNorth versus South:the impact of social norms in the market pricing of private property rights in Vietnaman article later published 111 World Developm North versus south the impact of social norms in the market pricing of private property rights in viet nam focus on the evolution of an industry and its structure. While institutional factors like social nouns, culture, and political economy have a lot of intuitive resonance. It IS usually more difficult to analyze their concrete impacts on market transactions They do not usually lend themselves to stat North versus south the impact of social norms in the market pricing of private property rights in viet nam istical analysis. This study takes advantage of the opportunity to compare whether the housing markets in two cities in Vietnam, Hanoi and Ho Chi MinhNorth versus south the impact of social norms in the market pricing of private property rights in viet nam
City, with purportedly widely different social nouns around profiting from property and legal formalism, price shades of legal tenure differently.North versus South:the impact of social norms in the market pricing of private property rights in Vietnaman article later published 111 World DevelopmNorth versus South:the impact of social norms in the market pricing of private property rights in Vietnaman article later published 111 World DevelopmGọi ngay
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