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Can a Populist Political Party Bear the Risk of Granting Complete Property Rights

The Mexican land reform, one of the most sweeping in the world, proceeded in two steps: it granted peasants highly incomplete property rights on more than half of the Mexican territory starting in 1914, creating strong economic and political dependence for beneficiaries on the ruling political party; and complete property rights starting in 1992, allowing beneficiaries to relate directly to the market. We analyse the impact on political behaviour of switching from incomplete to complete property rights.