Property Registration and Representative Property Systemin Colonial Korea: An Empirical Study of the Economic Growth

1. CONTENTS (1) RESEARCH OBJECTIVES The purpose of this study is to investigate de Soto(2000)’s model of representative property system in the Colonial Korea empirically. (2) RESEARCH METHOD This study was carried out by the method of time series analysis, including unit root test, Johansen cointegration test and Granger causality as well as the structural change test. (3) RESEARCH FINDINGS In the results of this survey, Johansen cointegration test shows that property registration, collateral, bank loan and GDP are cointegrated with each other. Granger causality is exhibited from property registry to GDP, company number and manufacture output, not vice versa.. 2. RESULTS This study shows that the number of the Property Registration was drastically increased after the Land Survey Project was completed in 1918, alongside the collateral and bank loan.