How Efficiently is Capital Created? Evidence from Property Registration Reform in Egypt
One tool for enhancing economic growth is a simple property registration process. Many developed countries, and countries on their way toward development, have simple, inexpensive, and fast property registration processes. The benefit of such a too...
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| Format: | Brief |
| Language: | English |
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World Bank, Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2007/11/9890686/efficiently-capital-created-evidence-property-registration-reform-egypt http://hdl.handle.net/10986/10632 |
| Summary: | One tool for enhancing economic growth
is a simple property registration process. Many developed
countries, and countries on their way toward development,
have simple, inexpensive, and fast property registration
processes. The benefit of such a tool is driven by this
thinking: low property registration fees encourage every
property holder to receive a formal title. The poor
especially will benefit, because they can use their property
as collateral, start doing business, and achieve some of
their dreams. Recognizing the importance of property
registration to the ease of doing business, the Egyptian
ministry of investment spotted a relevant reform. A reform
strategy was immediately set up. Two problem areas were
identified: the cost and quality of procedures to register a
property. In Cairo one year ago, registering a property
would cost on average 5.9 percent of its value, causing 90
percent of property to be either unregistered or registered
at underestimated values. |
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