Abstract This paper was prepared for "The Theory of Share Tenancy: After 50 Years," a conference organized by The Ronald Coase Center for Property Rights Research at the University of Hong Kong, November 24-26, 2017. The paper first appeared in Chinese as a series of column articles in ifeng.com...

Governments and international development agencies often fail in their efforts to build and reform property and company registries. They implement misguided policies rooted in a poor understanding of the role that registries play in the modern economy. This work aims to remedy this situation by...