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  • The 2017 Global Award for Entrepreneurship Research goes to Hernando de Soto

    The 2017 Global Award for Entrepreneurship Research goes to Hernando de Soto

    The Global Award for Entrepreneurship Research is the most prominent international award in entrepreneurship research with a price sum of EUR 100,000. De Soto’s analyses have had tremendous influence on policy throughout the world and were a main source of inspiration for the World Bank’s Doing Business program. Read More
  • 2017 Award Winner

    2017 Award Winner

    Hernando de Soto Peru  Institute for Liberty and Democracy For developing a new understanding of the institutions that underpin the informal economy as well as the role of property rights and entrepreneurship in converting the informal economy into the formal sector.   Read More
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A Peruvian economist, Hernando de Soto, made a study of Egyptian real estate in the late 1990s and early 2000s, and estimated that it took six to 14 years to register a dwelling on desert land bought from the state, and that registering one built on agricultural land bordered on the impossible.

Because it was so difficult to register property, Mr de Soto argued, Egyptian real estate, among the country’s most valuable assets, was locked away, making it virtually dead capital. The lack of proper titles discouraged any notion of providing mortgages, a financial tool that would help to ease the country’s chronic housing shortage and act as a spur to its financial markets.

At the time, economic think tanks, media and the government itself grabbed on to the results of the study most enthusiastically.

Read more here on the website of The National


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