Land Tenure and Investment in African Agriculture: Theory and Evidence

摘要

The purpose of the article is to use both economic theory and empirical evidence from scholarly studies to analyze the hypothesis that individualization of land tenure increases tenure security and agricultural investment. Two conclusions emerge: A broader theoretical perspective that uses some elements of institutional economics and the theory of imperfect markets provides more insight into the behavioral response to conversion of traditional tenure to an individualized system; the effects of individualization are determined by the context in which the tenure policy is applied. Policymakers should consider alternatives to individualization, including policies that simply remove impediments to evolution of traditional systems.