Report analysed the state of Property Rights Law in Kosovo
Analysis of Property Rights Law important due to its interrelationship with commercial development
Law is a system of rules, usually enforced through a set of institutions. It shapes politics, economics and society in numerous ways and serves as the foremost social mediator in relations between people.*
Commerce is a division of trade or production which deals with the exchange of goods and services from producer to final consumer. It comprises the trading of something of economic value such as goods, services, information or money between two or more entities. Commerce functions as the central mechanism which drives capitalism and certain other economic systems.*
Property rights are fundamental: entrepreneurs will not invest if they expect to be unable to keep the fruits of their investment.
(The American Economic Review , Stephen Knack and Philip Keefer, 1995; Paolo Mauro, 1995; Jakob Svensson, 1998; Daron Acemoglu et al., 2001) .
Property rights are an important determinant of investment by entrepreneurs. In Poland, where property rights are relatively secure, the rates of reinvestment are very high. In contrast, in Russia and Ukraine, where property rights are weak, it is found that the level of un-reinvested profits is high; entrepreneurs there have the ability to do much more investment than they actually do.
(Property Rights, Environmental and Resource Economics) .
Cost of hiring specialized consultants to draft the Law
Increased cost of enforcing the Law (Police labor intensive)
Necessity to increase wages for Court staff and judges in order to avoid potential corruption
Increased costs associated with training of Legal Representatives, Judges and other involved legal professions
Expropriations throughout the country – can provoke potential disputes, grievances among and between various groups of interest (potential unrest from workers whom consider certain companies their own)
Political willingness and commitment required from:
Prime Ministers Office
Ministry of Justice
Ministry of Spatial Planning
Ministry of Trade and Industry
Law Enforcement Agencies
International Institutions active in Kosovo (EULEX, USAID, EC (ECLO), ICO, IMF, ECB, WB) etc
Who should be involved
Implementation Timelines 2009 Tasks/Timeline Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Tender preparation Tender Advert Tender selection procedures Signing of Contract Works: Research, Draft 2010 Tasks/Timeline Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Works: Research, Draft Implementation: Training, Educating