Which of the following statements best characterizes the findings of Field (2005) in her study of the impacts of Peru's land titling program? A. Land titles led to a substantial increase in home improvements, but these renovations were largely financed out of pocket, instead of through borrowing from private financial markets. B. Land titles led to a substantial increase in home improvements, and people with titles found that they now had access to collateral, so they borrowed for these investments. C. Issuing land titles was associated with no change in home improvements. D. All of the above.

The evidence presented by Harari and Wong (2018) on slum upgrading in Jakarta suggests which of the following: A. Jakarta's slum upgrading projects were underfunded and ultimately had no effect on housing quality or other outcomes. B. Jakarta's slum upgrading projects preserved informal neighborhoods, leading to fragemented parcels and acting as a hinderance to future formal development. C. In the long run, slum upgrading in Jakarta increased land values, improved building in quality, and led to the construction of taller buildings. D. All of the above. E. None of the above.