I am writing this blog post from a small town surrounded by snow-capped mountains and livestock ranches. I am in Bozeman, Montana, where I have started a research fellowship at the Property and Environment Research Center. PERC is the leading research organization in the environmental economics. In USA it's the oldest and largest institute dedicated to improving environmental quality through free markets and private property rights. PERC actually pioneered the free market approach to the environmental economics known as free market environmentalism (FME). I am very excited to work here side by side with the most distinguished economists such as Roger Meiners, Daniel Benjamin, PJ Hill, Terry Anderson, Bob McCormick and many others. I have not met everyone yet because PERC has a pretty large stuff with many visiting scholars.
At the PERC my mission is to present an economic analysis of Ukraine's the most controverial land reform known as the 1999 Reform. I will use a firm-level sample from Ukraine’s agro-producing industry to assess an economic efficiency of agro-producing firms created in a wake of the 1999 Reform. My preliminary analysis indicates that a fully delineated and secure system of private property rights leads to large positive gains in economic efficiency. In Ukraine, agro-producing firms with a well-defined and secure governance system have twenty percent higher level of productive efficiency.
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