Property Rights Under Administrator-Dictators: The Rise and Fall of America's First Bank

2013 ◽  
Vol 73 (4) ◽  
pp. 1105-1131 ◽  
Author(s):  
Dror Goldberg ◽  
Igal Milchtaich
Keyword(s):  
Economic Development ◽  
Real Estate ◽  
Property Rights ◽  
New England ◽  
Unusual Case ◽  
Private Land ◽  
Different Types ◽  
Land Titles ◽  
Land Bank

The dictatorial Dominion of New England (1686–1689) saw the rise and fall of the first operational bank scheme in America. Both events resulted from the appointed rulers' attempts to personally profit from real estate, subject to an absolutist constitution imposed by England. The first, local ruler led a nominally private land bank. The subsequent, foreign ruler invalidated all land titles and thus killed the bank. This unusual case study exemplifies an extension of Mancur Olson's model of stationary and roving bandits, and demonstrates how economic development can be affected in different ways by different types of dictators.

Local Investments Site Selection and the Behavior of the Real Estate Market – Case Study in Poland

2017 ◽  
Author(s):  
Monika Siejka
Keyword(s):  
Economic Development ◽  
Real Estate ◽  
Negative Impact ◽  
Real Estate Market ◽  
The European Union ◽  
The Real Estate ◽  
The Real Estate Market ◽  
Real Estate Management

One of the main tasks of real estate management in the area of the municipality is making decisions concerning the location of investments on a local scale. These decisions should be taken with the principle of sustainable development. For such an action obliges Poland's membership in the European Union. Poland as a member of the EU is obliged to implement the rules in force in the Member States. Bearing in mind that any investment impact directly or indirectly on the economic development of the municipality, is therefore a significant impact on the local real estate market. Investments that have a negative impact on the environment can contribute to a reduction in the activity of the local real estate market. While performing tasks related to the economic development of the region and the increase in quality of life, increases the activity of the local real estate market. The work was carried out research on the dynamics of changes in the local real estate market in the area of the municipality Skrzyszow in the Malopolska province in Poland, in connection with the construction of the reservoir.

Why was America's First Bank Aborted?

2011 ◽  
Vol 71 (1) ◽  
pp. 211-222 ◽  
Author(s):  
Dror Goldberg
Keyword(s):  
Property Rights ◽  
Financial Institutions ◽  
Stage I ◽  
Simple Explanation ◽  
Advanced Stage ◽  
Private Land ◽  
Land Titles

In 1686 the leadership of Massachusetts became involved in the first operational bank scheme in America. In 1688 this note-issuing bank was mysteriously aborted at an advanced stage. I suggest a new, simple explanation for the bank's demise. The bank's notes were supposed to be backed mostly by private land in Massachusetts, but a new royal governor invalidated all the land titles. This episode demonstrates the importance of clearly defined and enforced property rights for the development of financial institutions.“After showing him an Indian deed for land, he said that their hand was no more worth than a scratch with a bear's paw, undervaluing all my titles, though everyway legal under our former charter government.”1Joseph Lynde

scholarly journals Correlation of Economic Development of Countries with the Potential of their Housing Real Estate Markets: A Case Study in the European Union

2020 ◽  
Vol XXIII (Special Issue 1) ◽  
pp. 660-678
Author(s):  
Ireneusz Dabrowski ◽  
Lukasz Mach ◽  
Lukasz Mikolajczyk ◽  
Arkadiusz Kuswik
Keyword(s):  
European Union ◽  
Economic Development ◽  
Real Estate ◽  
The European Union ◽  
Real Estate Markets

scholarly journals Research on Resource Curse Effect of Resource-Dependent Cities: Case Study of Qingyang, Jinchang and Baiyin in China

2018 ◽  
Vol 11 (1) ◽  
pp. 91 ◽  
Author(s):  
Chenyu Lu ◽  
Dai Wang ◽  
Peng Meng ◽  
Jiaqi Yang ◽  
Min Pang ◽  
...  
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Resource Curse ◽  
Economic Recession ◽  
Resource Development ◽  
Dutch Disease ◽  
Development Economic ◽  
Small Scale ◽  
Different Types

For a specific small-scale region with abundant resources, its copious resources tend to dictate the basic direction of its development, and may subsequently give rise to an industrial structure centered on the advantageous resources. This can give rise to an economic structure that lacks diversity, causing the economic development in the entire local region to fall into the dilemma of the resource curse. The present study conducts a case study from the perspective of small-scale regions, incorporating various types of resource-dependent cities in China, including Qingyang, Jinchang, and Baiyin, to interpret and analyze the resource curse effect by calculating a resource curse coefficient. Moreover, based on the regression model, the present study further discusses the empirical relations associated with the resource curse phenomenon. The results show that, regardless of whether a resource-dependent city is in the early, intermediate or late stage of its resource development, economic development is always plagued by the resource curse effect to a certain degree. Resource development cannot promote economic development, rather, it inhibits economic growth to some extent, resulting in an array of effects that are unfavorable to economic development, rendering the development unsustainable. For different types of resource-dependent cities, resource curse effect exhibits distinct characteristics. The resource curse effect is strongest for a resource-dependent city during an economic recession, is less severe during a development period, and is weakest during maturation. Resource development not only has a direct adverse impact on economic growth, but also often affects economic growth in multiple ways and on various levels through the Dutch disease effect, the crowding out effect, and the institution weakening effect. Until now, most results show that there is no obvious resource curse effect at the national and provincial level. The verification results of small-scale regions show that the resource curse effect at the city level still exists. In addition, the resource curse effect differs across different types of resource-dependent cities.

Banks and People in the Development Process

2014 ◽  
pp. 12-21
Author(s):  
Atanu Sengupta ◽  
Sanjoy De
Keyword(s):  
Economic Development ◽  
Real Estate ◽  
Crucial Role ◽  
Development Process ◽  
Investment Banks ◽  
Rural India ◽  
The People ◽  
Level Data ◽  
The Web

Economic development is crucially an end product of mobilizing dormant savings into the fragrance of a new life - what is commonly called as investment. Banks play a crucial role in this channelization. In an underdeveloped economy like India, there are many traditional avenues of savings (such as gold, land, livestock, real estate, and so on). There may be many motives why people opt for traditional avenues rather than formal banking. The traditional avenues are believed to be more trustworthy and down to earth. The strict rules and stereotyped functioning of the formal banks can make them uncomfortable to the people in the underdeveloped areas. Thus, a huge fund in India is caught in the web of informal banking streams. This chapter seeks to understand how far and to what extent these changes have occurred in India. First, the authors consider a case study from rural India that depicts disparate banking behavior of rural populace. Next, they use district level data on banking habits across all the states of India. The authors first note the pattern and distribution of banking habits of people across the subcontinent. They then try to assess the reasons behind such discrepancy.

Property rights and economic development: the legacy of Japanese colonial institutions

2016 ◽  
Vol 12 (3) ◽  
pp. 623-650 ◽  
Author(s):  
DONGWOO YOO ◽  
RICHARD H. STECKEL
Keyword(s):  
Economic Development ◽  
World War Ii ◽  
Property Rights ◽  
Bank Loans ◽  
Private Land ◽  
Individual Property ◽  
Land Taxation ◽  
Land Survey ◽  
Japanese Colonial ◽  
New Institutions

AbstractSeveral studies link development to institutions transplanted by European colonizers and here we extend this line of research to Asia. Japan imposed its system of well-defined property rights on some of its Asian colonies. In 1939, Japan began to register private land in its island colonies, an effort that was completed in Palau but interrupted elsewhere by World War II. Within Micronesia, robust economic development followed only in Palau where individual property rights were well defined. We show that well-defined property rights in Korea and Taiwan secured land taxation and enabled farmers to obtain bank loans for irrigation systems. Considering Japanese colonies, we use the presence or absence of a land survey as an instrument to identify the causal impact of new institutions. Our estimates show that property-defining institutions were important for economic development, results that are confirmed when using a similar approach with British Colonies in Asia.

Acquisition of Esophageal Speech Subsequent to Learning Pharyngeal Speech: An Unusual Case Study

1976 ◽  
Vol 41 (2) ◽  
pp. 233-237
Author(s):  
John K. Torgerson ◽  
Daniel E. Martin
Keyword(s):  
Fundamental Frequency ◽  
Clinical Setting ◽  
Sound Production ◽  
Unusual Case ◽  
Voice Therapy ◽  
Primary Method ◽  
Alaryngeal Speech ◽  
Esophageal Speech ◽  
Different Types

Laryngectomees who are delayed in obtaining alaryngeal voice therapy may develop pharyngeal voice, an undesirable type of alaryngeal voice. Pharyngeal voice is usually self-developed; however, it may also be acquired in the clinical setting when the patient is being taught to inject air for esophageal sound production. This report describes the principal findings involving a laryngectomee who had developed and used pharyngeal speech as his primary method of communication for two years prior to enrollment in alaryngeal voice therapy. A clinical technique that was found to be successful in altering the pharyngeal voice to esophageal voice is reported. Findings pertaining to the overall intelligibility as well as vocal fundamental frequency of the two different types of alaryngeal speech are included.

Interrelationships between Key Actors in Local Economic Development

1998 ◽  
Vol 16 (4) ◽  
pp. 463-479 ◽  
Author(s):  
C Wong
Keyword(s):  
Economic Development ◽  
Qualitative Data ◽  
Local Economic Development ◽  
Sociological Perspective ◽  
Policy Issues ◽  
North West ◽  
The North ◽  
Different Types ◽  
Subjective Meanings

The author examines the interrelationship between different organisations in the local economic-development field and the practitioners' response to various policy issues. A sociological perspective is adopted to achieve a sympathetic understanding of the situation as the actors see it, and of the subjective meanings they ascribe to their actions. Empirical findings were yielded both from quantitative and from qualitative data for two case-study areas—the North West and the Eastern regions of England. These two regions were chosen because of their very contrasting socioeconomic experiences, which provide a compelling account of how practitioners perceive different issues and how these perceptions vary between different types of organisations in different localities.

Banks and People in the Development Process

2014 ◽  
pp. 661-669
Author(s):  
Atanu Sengupta ◽  
Sanjoy De
Keyword(s):  
Economic Development ◽  
Real Estate ◽  
Crucial Role ◽  
Development Process ◽  
Investment Banks ◽  
Rural India ◽  
The People ◽  
Level Data ◽  
The Web

Economic development is crucially an end product of mobilizing dormant savings into the fragrance of a new life - what is commonly called as investment. Banks play a crucial role in this channelization. In an underdeveloped economy like India, there are many traditional avenues of savings (such as gold, land, livestock, real estate, and so on). There may be many motives why people opt for traditional avenues rather than formal banking. The traditional avenues are believed to be more trustworthy and down to earth. The strict rules and stereotyped functioning of the formal banks can make them uncomfortable to the people in the underdeveloped areas. Thus, a huge fund in India is caught in the web of informal banking streams. This chapter seeks to understand how far and to what extent these changes have occurred in India. First, the authors consider a case study from rural India that depicts disparate banking behavior of rural populace. Next, they use district level data on banking habits across all the states of India. The authors first note the pattern and distribution of banking habits of people across the subcontinent. They then try to assess the reasons behind such discrepancy.

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