Property Formation Process within an Institutional context
2012 (English)In: 8th FIG Regional Conference 2012: Surveying towards Sustainable Development, 2012Conference paper (Other academic)
The paper generally touches upon property institutions within the land administration domain and introduces the way property formation processes might be compared among jurisdictions in respect to transaction costs generated. This paper assumes that processes are differently arranged all over the world and that countries thereby may learn from each other’s experiences. It is based on a part of the PhD research "Real property processes – An explorative study of property institutions in Belarus" defended at the Royal Institute of Technology (Stockholm, Sweden) in June 2012.
Land could potentially be overused if no property rights existed. To reduce uncertainties while utilising land, formal property rights have been developed. These rights cannot exist without a legal framework facilitating property transfers on the market. Thus, institutions are specifically necessary to a property market and enhance the economic development of a country in general. If institutions do not meet the requirements of a market, economic growth is hampered.
The paper elucidates on a combination of economic results of a country, institutions and transaction costs in application to a property formation process. Specifically it deals with property formation process in three European countries (i.e. Slovenia, Sweden and Belarus) from a transaction costs perspective with the aim to identify differences among them and thereby generally enrich the theoretical knowledge in the land administration domain through their comparison. The latter is based on the transaction costs generated by this specific property formation process and relatively estimated with a focus on the stakeholders involved, their functions and interactions. Therefore, such an analysis may further be applied for proposing simplified property formation processes of a country and thereby economising on transaction costs.
Place, publisher, year, edition, pages
land administration, institutions, transaction costs, property formation process
Law and Society
IdentifiersURN: urn:nbn:se:kth:diva-137678ISBN: 87-92853-02-1OAI: oai:DiVA.org:kth-137678DiVA: diva2:679577
8th FIG Regional Conference; Montevideo, Uruguay, 26-29 November 2012
QC 201312192013-12-162013-12-162013-12-19Bibliographically approved