Economic Analysis of Sub-saharan Africa Real Estate Policies
, by Hammond, Felix; Antwi, Yaw AdarkwahNote: Supplemental materials are not guaranteed with Rental or Used book purchases.
- ISBN: 9780230232310 | 0230232310
- Cover: Hardcover
- Copyright: 5/15/2010
This book explores why existing real estate arrangements in Africa have not worked well and how they can be organized to provide efficient outcomes.
FELIX N. HAMMOND is a senior lecturer in Real Estate at the University of Wolverhampton, UK. YAW ADARKWAH ANTWI is a consultant in Real Estate Markets and Land Policy at LandPro Consultancy in Accra, Ghana.
List of Figures | p. x |
List of Tables | p. xi |
Preface | p. xiii |
Background | p. 1 |
Introduction | p. 1 |
Poverty, a worldwide problem | p. 3 |
Sub-Saharan Africa's struggle with poverty | p. 5 |
The place of public policy | p. 9 |
Analysing real estate policies | p. 12 |
Summary | p. 15 |
Primacy of Real Estate | p. 16 |
Introduction | p. 16 |
Real estate and poverty alleviation | p. 17 |
Causes of poverty | p. 17 |
Real estate as a factor of production | p. 21 |
Land and agricultural production | p. 24 |
Real estate and shelter poverty | p. 28 |
Real estate and economic development | p. 29 |
Measuring economic development | p. 29 |
Basic determinants of economic development | p. 32 |
The availability of real estate | p. 33 |
Utilisation of real estate resources | p. 33 |
Institutional rules and arrangements: Land tenure | p. 39 |
The major land tenure theoretical positions | p. 42 |
Summary | p. 50 |
Rationale for Real Estate Policy | p. 51 |
Introduction | p. 51 |
The concept of human action | p. 52 |
The real estate price system | p. 54 |
Public policy in real estate markets | p. 59 |
Shortcomings of government interventions | p. 62 |
Market improvement | p. 66 |
The Coase theorem | p. 67 |
Framework for real estate policy evaluation | p. 69 |
Summary | p. 72 |
The Political Economy of Sub-Saharan African Real Estate Policies | p. 73 |
Introduction | p. 73 |
Taxonomy of sub-Saharan Africa real estate policies | p. 73 |
The taxonomy | p. 75 |
The real estate policy process | p. 77 |
Pluralism, public choice and transaction costs | p. 78 |
Pluralism in action | p. 80 |
The colonial regime | p. 80 |
The single party postcolonial regimes | p. 85 |
The Ghana case | p. 87 |
Military regimes | p. 92 |
Emergent democratic regimes | p. 94 |
The social cost implications | p. 97 |
Summary | p. 100 |
Real Estate Policy Reforms in Sub-Saharan Africa | p. 101 |
Introduction | p. 101 |
First generation real estate policies | p. 101 |
Second generation land policies | p. 103 |
Third generation land policies | p. 105 |
The new path - pro-poor land policy regime | p. 108 |
Summary | p. 110 |
Economics of Real Estate Information | p. 111 |
Introduction | p. 111 |
The strategy of inquiry | p. 115 |
The indigenous tenure system and information gaps | p. 116 |
Sources and nature of information gaps | p. 117 |
Information gaps and tenure security | p. 120 |
The social costs | p. 123 |
Rectifying the gaps | p. 130 |
Summary | p. 132 |
Performance of Real Estate Bureaucracy | p. 133 |
Introduction | p. 133 |
Economics of public bureaucracy | p. 135 |
The Ghana land sector public bureaucracy | p. 138 |
Research method | p. 139 |
Factor analysis | p. 140 |
The data | p. 141 |
Results of the factor analysis | p. 143 |
The budget growth rate pattern | p. 146 |
The share of the bureaucracies' budgets of national income | p. 148 |
The size of the personnel roster | p. 148 |
Identified sources of extraneous costs | p. 150 |
The acute imbalances in the workforce structure | p. 150 |
The extraneous costs of input control budgeting | p. 152 |
Summary | p. 153 |
Benefits of Real Estate Policies | p. 154 |
Introduction | p. 154 |
The place of land policies | p. 156 |
Nature of land policies in Ghana | p. 160 |
Research method | p. 162 |
Data collection and instrument | p. 164 |
Analysis | p. 165 |
Results | p. 167 |
Benefits of enforcement institutions | p. 170 |
Benefits of the land policies | p. 170 |
Discussion and implications | p. 171 |
Summary | p. 173 |
Cost of Real Estate Policies | p. 175 |
Introduction | p. 175 |
Cost | p. 175 |
Private costs | p. 178 |
Private direct/transaction costs | p. 178 |
Private indirect/opportunity costs | p. 178 |
The social costs | p. 178 |
Direct administrative cost | p. 179 |
Indirect administrative cost | p. 179 |
Price distortions | p. 180 |
Rent seeking and rent dissipation | p. 182 |
Measuring the social costs of land policy | p. 182 |
The model | p. 184 |
The research method | p. 187 |
Data collection | p. 187 |
Profile of respondents | p. 188 |
The prime variables | p. 188 |
The results | p. 189 |
The indirect private costs (¿1) | p. 189 |
The contract costs | p. 190 |
The extra official costs | p. 191 |
The travel costs | p. 191 |
The travel time | p. 191 |
The travel time costs | p. 193 |
Frequency of travel | p. 194 |
Transport fare and direct travel costs | p. 195 |
The costs of lag-time | p. 195 |
The costs of waiting time | p. 195 |
The costs of delays | p. 196 |
The costs of Act 481, 1994 | p. 197 |
The direct administrative (vg) | p. 198 |
Deadweight costs (Harberger costs) | p. 202 |
The social marginal costs of land policies in Ghana | p. 205 |
Discussions | p. 207 |
The impacts | p. 210 |
Regulative policies | p. 211 |
Redistributive policies | p. 211 |
Distributive policies | p. 212 |
Summary | p. 213 |
The Way Forward | p. 214 |
Introduction | p. 214 |
The fundamental conclusions | p. 216 |
Sources of the policies | p. 216 |
The quantitative measuring framework | p. 218 |
The quantitative dimensions of social costs of real estate policies | p. 218 |
The benefits dimensions of the policies | p. 220 |
Recommendations for practice | p. 220 |
The overarching policy proposition | p. 221 |
The regulative policy reform proposal | p. 221 |
The distributive policy reform proposal | p. 221 |
The redistributive policy reform proposal | p. 222 |
The reform of policy delivery bureaucracies | p. 222 |
The costs of delays | p. 224 |
Recommendations for further study | p. 224 |
Summary | p. 224 |
Notes | p. 225 |
References | p. 230 |
Author Index | p. 250 |
Subject Index | p. 255 |
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