THE POLITICS OF PROPERTY-RIGHTS

The study of land tenure polarizes the field of development. Neoclassical scholars lobby for a move toward private property rights, while other economists and historians defend the maintenance of customary land tenure. I argue that the development scholars' focus on the structure of property rights obscures a more fundamental problem of land reform-that of enforcement. Property rights will not inspire individual investment and economic growth unless political institutions give the ruler of a local community or nation-state sufficient coercive authority to silence those who advocate an alternative, more distributionally favorable property rights system. At the same time, political institutions must force the ruler to establish a credible commitment to that property rights system. I illustrate this theoretical argument through an analysis of property rights institutions in Akyem Abuakwa, a traditional state in colonial Ghana.