Courses, Conferences, Seminars and Lectures
Public Registries: Institutional Foundations of Impersonal Exchange
Date(s): December 5, 2012
Time: 12:00 PM - 2:00 PM
Location(s): Lincoln House, Cambridge, Massachusetts
No longer accepting registrations for this event
The Lincoln Institute of Land Policy is now posting streaming video of selected Lincoln Lectures. View the Public Registries: Institutional Foundations of Impersonal Exchange lecture in its entirety.
Benito Arruñada is professor of business organization at Pompeu Fabra University in Barcelona. A former president of the International Society for New Institutional Economics, Arruñada has done extensive research in the confluence of law, economics and organization. The focus of most of his work has been on the organizational conditions that facilitate impersonal exchange, or the voluntary provision of data by individuals. He has published widely and has acted as consultant to international agencies and national governments on law and economics, land titling and business formalization.
How can public registries encourage economic growth, and how can they be efficiently organized? Benito Arruñada, professor of business organization at Pompeu Fabra University in Barcelona, will draw from his new book, Institutional Foundations of Impersonal Exchange: Theory and Policy of Contractual Registries (University of Chicago Press, 2012), exploring in particular how public registries strengthen property rights and reduce transaction costs. In this lecture, Arruñada will analyze the main tradeoffs in the organization of registries, and propose principles for successfully developing registries in countries at different stages of development. There are several challenges in structuring land and company registries, relevant to the current mortgage foreclosure crisis in the United States, the frenzy for simplifying business formalities, and some questionable efforts in developing countries in universal land titling. The analysis also applies to other areas of impersonal exchange, including intellectual property and financial derivatives.