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Dan Bogart, Gary Richardson
NBER Working Paper No. 14107
Issued in June 2008
NBER Program(s): DAE
LE
POL
---- Abstract -----
Between 1660 and 1830, Parliament passed thousands of acts restructuring rights to real and equitable estates. These estate acts enabled individuals and families to sell, mortgage, lease, exchange, and improve land previously bound by inheritance rules and other legal legacies. The loosening of these legal constraints facilitated the reallocation of land and resources towards higher-value uses. Data reveals correlations between estate acts, urbanization, and economic development during the decades surrounding the Industrial Revolution.
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