Economic Analysis of Sub-Saharan Africa Real Estate Policies, 2010
An argument initiated in Chapter 2 is being developed to conclude that building an investment cli... more An argument initiated in Chapter 2 is being developed to conclude that building an investment climate that facilitates (private sector led) ‘investment and growth and empowering poor people to participate in that growth’ (Stern, 2002) offers some answers to sustainable poverty alleviation in sub-Saharan Africa. This raises the obvious question: how does one empower the poor to participate in private sector led growth? Considering the pervasiveness of real estate ownership (generally defined) and transactions in the sub-Saharan region, creating an environment to provide the right incentives for the poor to utilise, via their own voluntary transactions, real estate assets efficiently may be part of the answer to the question. This chapter examines the parameters that determine what might be described as efficient real estate policy regimes that could garner the gains made by the poor, through real estate utilisation and transactions, to better their lot. The view of this book is that the poverty of appropriate real estate policy regimes in sub-Saharan Africa is a fundamental cause of why many of its inhabitants own real estate but are still hopelessly poor.
Economic Analysis of Sub-Saharan Africa Real Estate Policies, 2010
If Africa wishes to prosper, it must draw insights from how the West has managed to attain and re... more If Africa wishes to prosper, it must draw insights from how the West has managed to attain and retain prosperity. There is evidence of a connection between property market efficiency and rising prosperity in the West. Earlier economists like Adam Smith (1776) and George (1912) have long detected a positive correlation between development and the performance of the property market. In comparatively recent times also, Alonso (1960), Muth (1985), Mills (1972), Ball et al. (1998), Deininger (2003) and Dam (2006) have all contributed profoundly to our understanding of the importance of landed properties to the economic development processes in both rich and poor countries. It is no wonder that all rich countries are host to active and efficient property markets. It is estimated, for example, that land and buildings ‘account for between half and three-quarters of the wealth in most economies’ (World Bank, 2007). Further, a developed economy like the UK derives as much as 6 per cent of its Gross Domestic Product (GDP) from its commercial property sector alone (BPF, 2006). A possible inference from this is that developed economies are rich to a degree because their property markets are well functioning. There is thus little doubt that improving the performance of property markets in the developing world is an effective and strategic means of achieving economic prosperity.
Economic Analysis of Sub-Saharan Africa Real Estate Policies, 2010
The impact of a policy is determined by comparing its costs and benefits such that when the benef... more The impact of a policy is determined by comparing its costs and benefits such that when the benefits outweighs the cost the policy is said to be having a positive economic impact; otherwise it will be having, at best, zero or, at worst, a negative impact. To determine the impacts of policies, knowledge of both its associated cost and benefits is required. The discussions in Chapter 8 have offered insights into the order of the magnitude of benefits derivable from extant sub-Saharan Africa real estate policies. With this knowledge we now need to examine the magnitude of the cost associated with these policies. We must first understand what cost means.
Economic Analysis of Sub-Saharan Africa Real Estate Policies, 2010
An attempt was made in Chapter 1 to unfold the chief object of this work: to contribute to the al... more An attempt was made in Chapter 1 to unfold the chief object of this work: to contribute to the alleviation of poverty in sub-Saharan Africa via efficient real estate policies. In order to accomplish this stated objective, it is necessary, as a preliminary step, to take account of the primacy of real estate as a means for the reduction of poverty and for the pursuit of economic development. It is to this end that this chapter is directed.
The framework devised in this paper, together with empirical results obtained through funding fro... more The framework devised in this paper, together with empirical results obtained through funding from the Royal Institution of Chartered Surveyors, is being utilized to make key decisions within the current US$55 million Ghana Land Administration project.
Quantification and characterization of medical waste generated in healthcare facilities (HCFs) in... more Quantification and characterization of medical waste generated in healthcare facilities (HCFs) in a developing African nation has been conducted to provide insights into existing waste collection and disposal approaches, so as to provide sustainable avenues for institutional policy improvement. The study, in Ibadan city, Nigeria, entailed a representative classification of nearly 400 healthcare facilities, from 11 local government areas (LGA) of Ibadan, into tertiary, secondary, primary, and diagnostic HCFs, of which, 52 HCFs were strategically selected. Primary data sources included field measurements, waste sampling and analysis and a questionnaire, while secondary information sources included public and private records from hospitals and government ministries. Results indicate secondary HCFs generate the greatest amounts of medical waste (mean of 10,238 kg/day per facility) followed by tertiary, primary and diagnostic HCFs, respectively. Characterised waste revealed that only approximately 3% was deemed infectious and highlights opportunities for composting, reuse and recycling. Furthermore, the management practices in most facilities expose patients, staff, waste handlers and the populace to unnecessary health risks. This study proffers recommendations to include (i) a need for sustained cooperation among all key actors (government, hospitals and waste managers) in implementing a safe and reliable medical waste management strategy, not only in legislation and policy formation but also particularly in its monitoring and enforcement and (ii) an obligation for each HCF to ensure a safe and hygienic system of medical waste handling, segregation, collection, storage, transportation, treatment and disposal, with minimal risk to handlers, public health and the environment.
... Reference List. Antwi, A. (2000). Urban Land Markets in Sub-Saharan Africa: A Quantitative St... more ... Reference List. Antwi, A. (2000). Urban Land Markets in Sub-Saharan Africa: A Quantitative Study of Accra Ghana. PhD Thesis, Napier University, Department of Economics. ... The law of real property. London: Sweet and Maxwell Limited. Platteau, J.-P. (2000). ...
Real estate markets function efficiently when driven by information regimes in which legitimate i... more Real estate markets function efficiently when driven by information regimes in which legitimate information corresponds with information that must count in market decisions. Where there are mismatches between legitimate information and information that must count, gaps naturally emerge in the information order. If the conditions for the creation and widening of such gaps are not removed, tenure insecurity, real estate transaction constraints and social costs tend to be heightened. This article presents a view of the conditions that have created information gaps in the Ghanaian real estate economy together with their allied tenure insecurity and social costs. Propositions for alleviating these information gaps are consequently proffered.
Purpose There is a longstanding argument that landed property market information management via... more Purpose There is a longstanding argument that landed property market information management via land registration guarantees accessibility to loans from financial institutions for investment and wealth creation in developing economies. Thus, land registration has been prescribed ...
Flood risk insurance can be an effective tool in assisting the restoration of damaged property af... more Flood risk insurance can be an effective tool in assisting the restoration of damaged property after a flood event and sustaining communities through difficult times. It can also form part of a wider flood risk management strategy. In the light of recent flood events in the UK and in the context of changing property insurance markets the universal cover previously enjoyed by floodplain residents has been called into question. Conflicting media and industry views leave the floodplain resident and the wider community in confusion. A survey of floodplain residents in England regarding their experience with flooding and flood insurance in England has been undertaken. The results reveal that some floodplain residents do indeed encounter difficulties when seeking insurance for their homes. However, despite the risk averse policies of some insurers, availability of insurance is still strong in both at risk and previously flooded locations which may lead to complacency among residents. As a tool in risk management therefore the competitive market is hampered by homeowners search strategies and lack of information from realizing its potential.
... [Web of Science ®] View all references; Deininger, 200321. Deininger, K. 2003. Land Policies ... more ... [Web of Science ®] View all references; Deininger, 200321. Deininger, K. 2003. Land Policies for Growth and Poverty Reduction , Washington, DC: World Bank and Oxford University Press. View all references; Kasanga, 2002; 1995; Larbi, 199438. Larbi, WO 1994. ...
Wilson, 2006) in order to evaluate the cost benefits of flood management programmes. Some insuran... more Wilson, 2006) in order to evaluate the cost benefits of flood management programmes. Some insurance industry funded research has been undertaken to examine the effect of flooding on the cost of repairing individual properties (Black and Evans, 1999a, Soetanto et al., 2002). Such research is designed to allow insurers to mediate claims
The connection between efficient land use and economic development is widely known. Land use plan... more The connection between efficient land use and economic development is widely known. Land use planning could thus be effectively leveraged in the fight against poverty in sub-Saharan Africa (SSA). To do so, the prescriptions of land use regulations must not just be efficient and effective, but must also be widely adhered to by developers and land users. Adherence to land use regulatory requirements is very low in SSA, indeed across poor countries. This could stem from a multitude of factors. The often cited causes are a general ignorance of the existence of particular land use regulatory requirements or a general lack of appreciation of their benefits. There is however little empirical evidence to confirm the unique contributions of these two factors to the low compliance rate. This study tests the hypothesis that ignorance of planning requirements and lack of appreciation of their benefits overwhelmingly determine land use regulation compliance rate using empirical data from Kwabenya, a suburb of Accra, Ghana. The evidence refutes the hypothesis. On the contrary, the rampant breaches of land use regulations were found to be mostly deliberate. This is stirred by the dearth of evidence about the benefits of land use requirements to warrant the costs and inconveniences of compliance. Compliance was found to be highest among the elite class. This is because they tend to face relatively lower costs of compliance due to cronyism and the need to provide evidence of compliance for other transactions such as to secure bank loans. Designing land use regulations that offers actual benefits over costs is more likely to achieve higher compliance. The on-going multilateral funded planning reforms in Ghana should do no worse than framing the new policies on the basis of supportable evidence of benefits over costs; speculative benefits have proved fatal.
Economic Analysis of Sub-Saharan Africa Real Estate Policies, 2010
An argument initiated in Chapter 2 is being developed to conclude that building an investment cli... more An argument initiated in Chapter 2 is being developed to conclude that building an investment climate that facilitates (private sector led) ‘investment and growth and empowering poor people to participate in that growth’ (Stern, 2002) offers some answers to sustainable poverty alleviation in sub-Saharan Africa. This raises the obvious question: how does one empower the poor to participate in private sector led growth? Considering the pervasiveness of real estate ownership (generally defined) and transactions in the sub-Saharan region, creating an environment to provide the right incentives for the poor to utilise, via their own voluntary transactions, real estate assets efficiently may be part of the answer to the question. This chapter examines the parameters that determine what might be described as efficient real estate policy regimes that could garner the gains made by the poor, through real estate utilisation and transactions, to better their lot. The view of this book is that the poverty of appropriate real estate policy regimes in sub-Saharan Africa is a fundamental cause of why many of its inhabitants own real estate but are still hopelessly poor.
Economic Analysis of Sub-Saharan Africa Real Estate Policies, 2010
If Africa wishes to prosper, it must draw insights from how the West has managed to attain and re... more If Africa wishes to prosper, it must draw insights from how the West has managed to attain and retain prosperity. There is evidence of a connection between property market efficiency and rising prosperity in the West. Earlier economists like Adam Smith (1776) and George (1912) have long detected a positive correlation between development and the performance of the property market. In comparatively recent times also, Alonso (1960), Muth (1985), Mills (1972), Ball et al. (1998), Deininger (2003) and Dam (2006) have all contributed profoundly to our understanding of the importance of landed properties to the economic development processes in both rich and poor countries. It is no wonder that all rich countries are host to active and efficient property markets. It is estimated, for example, that land and buildings ‘account for between half and three-quarters of the wealth in most economies’ (World Bank, 2007). Further, a developed economy like the UK derives as much as 6 per cent of its Gross Domestic Product (GDP) from its commercial property sector alone (BPF, 2006). A possible inference from this is that developed economies are rich to a degree because their property markets are well functioning. There is thus little doubt that improving the performance of property markets in the developing world is an effective and strategic means of achieving economic prosperity.
Economic Analysis of Sub-Saharan Africa Real Estate Policies, 2010
The impact of a policy is determined by comparing its costs and benefits such that when the benef... more The impact of a policy is determined by comparing its costs and benefits such that when the benefits outweighs the cost the policy is said to be having a positive economic impact; otherwise it will be having, at best, zero or, at worst, a negative impact. To determine the impacts of policies, knowledge of both its associated cost and benefits is required. The discussions in Chapter 8 have offered insights into the order of the magnitude of benefits derivable from extant sub-Saharan Africa real estate policies. With this knowledge we now need to examine the magnitude of the cost associated with these policies. We must first understand what cost means.
Economic Analysis of Sub-Saharan Africa Real Estate Policies, 2010
An attempt was made in Chapter 1 to unfold the chief object of this work: to contribute to the al... more An attempt was made in Chapter 1 to unfold the chief object of this work: to contribute to the alleviation of poverty in sub-Saharan Africa via efficient real estate policies. In order to accomplish this stated objective, it is necessary, as a preliminary step, to take account of the primacy of real estate as a means for the reduction of poverty and for the pursuit of economic development. It is to this end that this chapter is directed.
The framework devised in this paper, together with empirical results obtained through funding fro... more The framework devised in this paper, together with empirical results obtained through funding from the Royal Institution of Chartered Surveyors, is being utilized to make key decisions within the current US$55 million Ghana Land Administration project.
Quantification and characterization of medical waste generated in healthcare facilities (HCFs) in... more Quantification and characterization of medical waste generated in healthcare facilities (HCFs) in a developing African nation has been conducted to provide insights into existing waste collection and disposal approaches, so as to provide sustainable avenues for institutional policy improvement. The study, in Ibadan city, Nigeria, entailed a representative classification of nearly 400 healthcare facilities, from 11 local government areas (LGA) of Ibadan, into tertiary, secondary, primary, and diagnostic HCFs, of which, 52 HCFs were strategically selected. Primary data sources included field measurements, waste sampling and analysis and a questionnaire, while secondary information sources included public and private records from hospitals and government ministries. Results indicate secondary HCFs generate the greatest amounts of medical waste (mean of 10,238 kg/day per facility) followed by tertiary, primary and diagnostic HCFs, respectively. Characterised waste revealed that only approximately 3% was deemed infectious and highlights opportunities for composting, reuse and recycling. Furthermore, the management practices in most facilities expose patients, staff, waste handlers and the populace to unnecessary health risks. This study proffers recommendations to include (i) a need for sustained cooperation among all key actors (government, hospitals and waste managers) in implementing a safe and reliable medical waste management strategy, not only in legislation and policy formation but also particularly in its monitoring and enforcement and (ii) an obligation for each HCF to ensure a safe and hygienic system of medical waste handling, segregation, collection, storage, transportation, treatment and disposal, with minimal risk to handlers, public health and the environment.
... Reference List. Antwi, A. (2000). Urban Land Markets in Sub-Saharan Africa: A Quantitative St... more ... Reference List. Antwi, A. (2000). Urban Land Markets in Sub-Saharan Africa: A Quantitative Study of Accra Ghana. PhD Thesis, Napier University, Department of Economics. ... The law of real property. London: Sweet and Maxwell Limited. Platteau, J.-P. (2000). ...
Real estate markets function efficiently when driven by information regimes in which legitimate i... more Real estate markets function efficiently when driven by information regimes in which legitimate information corresponds with information that must count in market decisions. Where there are mismatches between legitimate information and information that must count, gaps naturally emerge in the information order. If the conditions for the creation and widening of such gaps are not removed, tenure insecurity, real estate transaction constraints and social costs tend to be heightened. This article presents a view of the conditions that have created information gaps in the Ghanaian real estate economy together with their allied tenure insecurity and social costs. Propositions for alleviating these information gaps are consequently proffered.
Purpose There is a longstanding argument that landed property market information management via... more Purpose There is a longstanding argument that landed property market information management via land registration guarantees accessibility to loans from financial institutions for investment and wealth creation in developing economies. Thus, land registration has been prescribed ...
Flood risk insurance can be an effective tool in assisting the restoration of damaged property af... more Flood risk insurance can be an effective tool in assisting the restoration of damaged property after a flood event and sustaining communities through difficult times. It can also form part of a wider flood risk management strategy. In the light of recent flood events in the UK and in the context of changing property insurance markets the universal cover previously enjoyed by floodplain residents has been called into question. Conflicting media and industry views leave the floodplain resident and the wider community in confusion. A survey of floodplain residents in England regarding their experience with flooding and flood insurance in England has been undertaken. The results reveal that some floodplain residents do indeed encounter difficulties when seeking insurance for their homes. However, despite the risk averse policies of some insurers, availability of insurance is still strong in both at risk and previously flooded locations which may lead to complacency among residents. As a tool in risk management therefore the competitive market is hampered by homeowners search strategies and lack of information from realizing its potential.
... [Web of Science ®] View all references; Deininger, 200321. Deininger, K. 2003. Land Policies ... more ... [Web of Science ®] View all references; Deininger, 200321. Deininger, K. 2003. Land Policies for Growth and Poverty Reduction , Washington, DC: World Bank and Oxford University Press. View all references; Kasanga, 2002; 1995; Larbi, 199438. Larbi, WO 1994. ...
Wilson, 2006) in order to evaluate the cost benefits of flood management programmes. Some insuran... more Wilson, 2006) in order to evaluate the cost benefits of flood management programmes. Some insurance industry funded research has been undertaken to examine the effect of flooding on the cost of repairing individual properties (Black and Evans, 1999a, Soetanto et al., 2002). Such research is designed to allow insurers to mediate claims
The connection between efficient land use and economic development is widely known. Land use plan... more The connection between efficient land use and economic development is widely known. Land use planning could thus be effectively leveraged in the fight against poverty in sub-Saharan Africa (SSA). To do so, the prescriptions of land use regulations must not just be efficient and effective, but must also be widely adhered to by developers and land users. Adherence to land use regulatory requirements is very low in SSA, indeed across poor countries. This could stem from a multitude of factors. The often cited causes are a general ignorance of the existence of particular land use regulatory requirements or a general lack of appreciation of their benefits. There is however little empirical evidence to confirm the unique contributions of these two factors to the low compliance rate. This study tests the hypothesis that ignorance of planning requirements and lack of appreciation of their benefits overwhelmingly determine land use regulation compliance rate using empirical data from Kwabenya, a suburb of Accra, Ghana. The evidence refutes the hypothesis. On the contrary, the rampant breaches of land use regulations were found to be mostly deliberate. This is stirred by the dearth of evidence about the benefits of land use requirements to warrant the costs and inconveniences of compliance. Compliance was found to be highest among the elite class. This is because they tend to face relatively lower costs of compliance due to cronyism and the need to provide evidence of compliance for other transactions such as to secure bank loans. Designing land use regulations that offers actual benefits over costs is more likely to achieve higher compliance. The on-going multilateral funded planning reforms in Ghana should do no worse than framing the new policies on the basis of supportable evidence of benefits over costs; speculative benefits have proved fatal.
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