LAURENT-LUCCHETTI, Jérémy; SANTUGINI, Marc - Institut d'Économie Appliquée, HEC Montréal (École … - 2010
It has long been recognized that the quality of property rights greatly impacts the economic development of a country and the use of its natural resources. Since Long (1975), the conventional wisdom has been that ownership risk induces a firm to overuse the stock of a resource. However, the...