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This work first describes the structure of the main institutional arrangements devised for reducing transaction costs related to the risk of eviction when selling land or using it as collateralóprivate contracting, recording of documents and registration of rights.
Land regulations have a major impact on economic development, especially in agrarian societies, and they continue to affect the efficiency of the rural economy when economies further develop.
This paper describes (1) the processes of privatization of land management in selected transition countries and (2) the post-privatization changes in land administration institutions which are being crafted to establish land markets.
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