▁critic ized ▁de ▁S oto ▁for ▁over est im ating ▁the ▁amount ▁of ▁wealth ▁that ▁land ▁tit ling ▁now ▁inform ally ▁owned ▁property ▁could ▁un lock , ▁and ▁arg ues ▁that ▁" de ▁S oto ' s ▁own ▁experience ▁in ▁Peru ▁suggests ▁that ▁land ▁tit ling ▁by ▁itself ▁is ▁not ▁likely ▁to ▁have ▁much ▁effect . ▁Tit ling ▁must ▁be ▁followed ▁by ▁a ▁series ▁of ▁polit ically ▁challeng ing ▁steps . ▁Im pro ving ▁the ▁efficiency ▁of ▁jud icial ▁systems , ▁re writing ▁bank rupt cy ▁codes , ▁rest ruct uring ▁financial ▁market ▁reg ulations , ▁and ▁similar ▁re forms ▁will ▁involve ▁much ▁more ▁difficult ▁choices ▁by ▁polic ym akers ." ▁ ▁Emp ir ical ▁studies ▁by ▁Argent ine ▁econom ists ▁Sebastian ▁Gal iani ▁and ▁Ern esto ▁Sch arg rod sky ▁have ▁taken ▁issue ▁with ▁de ▁S oto ' s ▁link ▁between ▁tit ling ▁and ▁the ▁increase ▁in ▁credit ▁to ▁the ▁poor , ▁but ▁have ▁also ▁pointed ▁out ▁that ▁families ▁with ▁titles ▁" subst ant ial ly ▁increased ▁housing ▁invest ment , ▁reduced ▁household ▁size , ▁and ▁improved ▁the ▁education ▁of ▁their ▁children ▁relative ▁to ▁the ▁control ▁group ". ▁In ▁a ▁ 2 0 1 2 ▁book ▁by ▁Y ale ▁University ▁political ▁science ▁method ologist ▁Th ad ▁Dun ning , ▁he ▁arg ues ▁that ▁Gal iani ▁and ▁Sch arg rod sky ' s ▁studies ▁provide ▁" high ly ▁cred ible " ▁claims ▁because ▁the ▁studies ▁rely ▁on ▁true ▁random ization , ▁whereas ▁De ▁S oto ' s ▁study ▁did ▁not ▁( and ▁is