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Publication
Commons as Insurance and the Welfare Impact of Privatization
| Auteur(s) | Jean-Marie BALAND, Patrick FRANCOIS |
| Unité(s) de recherche(s) |
Centre de recherche en économie de développement
Département des sciences économiques |
| Projet de recherche | Common Property Resources and Poverty |
| Année | 2005 |
| Type | Articles de périodique |
| Langue | Anglais |
| Mots clés | |
| Résumé | It is shown here that despite the efficiency gains from privatization, when markets are incomplete, all individuals may be made worse off by privatization, even when the resource is equitably privatized. Such market incompleteness is common in the developing world and can explain the often encountered resistance to efficiency enhancing privatizing reforms, especially in the case of village level landholdings and forests. The advantage of common held property arises because of its superior insurance properties (which tend to provide income maintenance in low states). Sufficient conditions are established under which any feasible insurance scheme under private property cannot ex ante Pareto dominate allocations under the commons. |
| Versions électroniques | Fichier PDF |
Article de périodique
| Titre du périodique | Journal of Public Economics |
| Sous-titre du périodique | |
| Editeur scientifique | |
| Volume | 89 |
| Fascicule | |
| Pages | 211 - 231 |
| Date de parution | 2005 |
| Facteur d'impact | |
| Nombre de citations |
