While the potential contribution of a nationally implemented program for Reducing Emissions from Deforestation and Forest Degradation (REDD+) to developing countries’ budgets remains as yet obscure, two general concerns are that REDD+ will i) incentivize land grabbing and ii) remain financially u

We examine the consequences of land tenure insecurity on economic growth in Brazil. We use an overlapping generations model with two sectors: an agricultural sector and a manufacturing sector. Land is specific to the agricultural sector and capital goods are specific to the manufacturing sector.

This article solves and characterizes optimal decision rules to invest in irreversible land improvements conditional on land tenure insecurity. Economic model is a normative dynamic programming model with known parameters for the one period returns and transition equations.

This paper provides evidence from one of the poorest countries of the world that the property rights matter for efficiency, investment, and growth. With all land state-owned, the threat of land redistribution never appears far off the agenda.

Tenure insecurity can have important consequences for the conservation of natural resources. Land titling is often considered a solution to the problem of weak investment incentives under tenure insecurity.