Conclusion

Abstract

The concluding chapter summarizes the major findings of this book. Also, hints are provided as to how these findings can be useful in formulating policies for developing countries in general, and Bangladesh in particular. It has been shown that various economic policies which prove to be welfare-reducing if they are assessed through the framework of property rights are in effect in many developing countries. This requires regulators to be thorough in analyzing the pros and cons of a particular policy related to the distribution of scarce resources. However, it cannot be said that the inefficient structure of property rights is merely the result of an inaccurate model or the errors of omission. It can be the result of errors of commission, in which case, the power elite may choose a particular form of property right to capture rents. Unless these anomalies are identified and ameliorate, economic and social well-being of many developing economies will remain unrealized.