In his latest entry on MIT Press, Tanner Regan, Assistant Professor of Economics and International Affairs, addressed the challenges of establishing property rights in sub-Saharan countries. In his article, he demonstrates the importance of willingness-to-pay in an economy where pricing policy is often off the record, based on fieldwork in Dar es Salaam and Kilungle, Tanzania.
The rapid urbanization in African countries forced governments to adopt land tenure reforms, but title deed uptake in much of urban Africa remains low. Regan suggests that community leaders can help set prices of land titles, which will improve the "financial viability of formalization projects and make them more inclusive for the urban poor." His study demonstrated that community leaders can provide helpful information on the local demand for titles, and that gaining property rights encourages investment in underdeveloped areas.
To read his full article, please consult MIT Press Direct.