Secure property rights to land and well-functioning land rental and sales markets are essential for creating investment incentives, improving the allocation of land, and developing financial markets. Yet regulatory restrictions on land rental and sales and regulatory frameworks providing inadequate tenure security are common. This paper looks at the impact of imperfections in other factor markets and the costs and benefits of government intervention to improve the security of property rights and the functioning of land markets and draws conclusions about land policy issues [author]

Chapter list in HTML, chapters are in PDF formatAlthough recent analyses of land markets show a growing concern for policy and regulatory issues, the literature still lacks a robust framework capable of showing how land markets function, the major policy and regulatory constraints to their efficient operations, and the implications for reform.This chapter is a step in that direction. The first section sets out to characterize land markets -- their emergence, closely associated with the evolution of property rights; major imperfections; and key spatial aspects.

Describes (1) the processes of privatization of land management in selected transition countries and (2) the post-privatization changes in land administration institutions which are being crafted to establish land markets. It begins with the proposition that there are similar land market institutional problems which most "transition" countries are facing, due largely to common experiences in creating command economies during the past 50-80 years and the almost simultaneous decisions of these countries to move toward market political economies in the late 1980s and early 1990s.

With land being the main source of income for many people in the developing world, security of access or ownership rights is imperative to the alleviation of rural povety. Past polices of land redistribution, prohibition of land renting and later legalisation of short-term contracts only, may have prevented or undermined tenancy markets in Ethiopia. This paper examines the allocative efficiency of the land rental market in Northern Ethiopia, and the extent to which adjustment in the tenancy market is constrained by transaction costs.

This draft paper outlines a strategy for World Bank involvement in land policies. It focuses on property rights to land, land transactions, and socially optimal use of land.

This paper estimates the poverty reducing impact of land access in rural Uganda. The paper firstly states that land acquired through markets or otherwise may play an important role for rural household welfare. Conversely, there are concerns that poverty reduction effect of access to land through the market may be inadequate, due to land markets that can increase land concentration among the rich and inefficient producers.

What have we learned about land markets in South Asia about land reform, land fragmentation, sharecropping, security of tenure, farm size, land rights, transaction costs, bargaining power, policy distortions, and market imperfections (including those associated with gender)?Faruqee and Carey review the literature on land markets in South Asia to clarify what's known and to highlight unresolved issues. They report that: We have a good understanding of why sharecropping persists and why it can be superior to other standard agricultural contracts.

How do the spatial dynamics of the socialist city compare with those of the market city? What happens to a city when all investment decisions are made without land markets? What are the outcomes when the forces described by familiar urban models are not allowed to work?Bertaud and Renaud describe the structure of Russian cities after 70 years of Soviet development.

This paper is a synthesis of land issues and land policy constraints in Southern Africa prepared for the World Bank Regional Workshop on Land Issues in Africa and the Middle East held in Kampala, Uganda, in May 2002. It synthesizes key points made in commissioned papers, plenary comments, and facilitated discussions from a special Southern Africa Working Group attended by conference delegates.

Mexican rural reform has questioned the role of the peasantry and private national producers in agriculture. The reform followed a neoliberal paradigm for incorporating the nation into the global village. As part of a government strategy, land reform in Mexico aims to change entrepreneurial and land tenure patterns in rural areas into an individual, private, large-scale, and capitalist productive structure, and the land market is vital in allowing the land transfers needed to change the land tenure pattern.

Contemporary and historical state interventions in South African cities and towns have distorted urban land markets affecting especially the poor. Although partly underpinned by a formidable land administration system and a strong land rights base, South African cities and towns continue to manifest the historic inequality of class and race in their spatial land use and ownership patterns.

This article provides a review of the past and potential future roles of land tenure reforms and land markets in Sub-Saharan Africa (SSA) as responses to population growth in the process of land use intensification and livelihood transformation.