Do Property Rights Promote Investment But Cause Deforestation? Quasi-Experimental Evidence from Nicaragua

As property rights have spread, promoted by organizations like the World Bank, it has become increasingly important to understand the consequences of improved property rights (see e.g., [14]). It is widely argued in the economic literature that property rights and the institutions that undergird them are essential for creating the incentives necessary for economic growth [1,51]. Many economists argue that property titling is one of the most effective ways to improve the lives of the poor, who often lack property rights [8,17,53]