期刊
REGIONAL SCIENCE AND URBAN ECONOMICS
卷 69, 期 -, 页码 38-47出版社
ELSEVIER
DOI: 10.1016/j.regsciurbeco.2017.12.007
关键词
Property rights; Squatting; Property taxation; Hedonic price function
资金
- Lincoln Institute of Land Policy Program on Latin America and the Caribbean [LZH110514]
This paper evaluates the effect of property rights on property values in Peru. Previous research on squatting has shed light on how the provision of formal land titles affects a number of socioeconomic outcomes and a subset of this research has provided estimates on how the provision of formal titles affects property values. However, the phenomenon of squatting encompasses a variety of informal property rights distinct from the possession of a legal title. Using an exceptionally rich household data set including geo-location at the community level we study the effects of both formal and informal property rights on property values. Having a title increases property values by almost 7 percent and squatting on the land by invasion reduces values by about 6 percent. Using these estimates, we determine the potential losses of property tax revenue and are able to study the issue of squatting in the context of public finance.
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