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In economics, land has been traditionally assumed to be a fixed production factor, both in terms of quantity supplied and mobility, as opposed to capital and labor, which are usually considered to be mobile factors, at least to some extent. Yet, in the last decade, international investors have expressed an unexpected interest in farmland and in land-related investments, with the demand for land brusquely rising at an unprecedented pace.
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Synergies among land institutions and institutional changes impact on land markets and in guaranteeing agro-based employment, capital injection, local economic development and infrastructural improvement. Increasingly, these institutions have come under pressure and there are concerns about their functional capacities and implications on land markets. This paper discusses institutional synergies and its impacts on customary land markets under large-scale land acquisitions for agro-investments in Ghana.
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