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The economic impacts of sub-Saharan Africa urban real estate policies
Hammond, Felix Nikoi
Hammond, Felix Nikoi
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2006
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Justification for policies, whether in the field of real estate or others is conditional on their ability to stimulate markets to contribute positively to economic growth by promoting efficient allocation of the resources they affect. Yet outcomes of policies though crucial are not self-evident and as such require conscious calibrations. While there is a burgeoning concern for more robust evaluation of real estate policy impacts in sub-Saharan Africa, the tools and methodologies for accomplishing this remain less fully developed. There are at the moment few impact evaluation methodologies that are entirely applicable to real estate policies and even fewer that are specifically applicable to sub-Saharan Africa real estate policies. To this end, this thesis presents a portable quantitative framework for evaluating sub-Saharan Africa specific real estate policies. This is accomplished through an extensive review of the focal literature surrounding land policy impacts evaluation in sub-Saharan Africa as well as the conventional economic impacts methodologies. The review provided a broad overview of the ongoing dialogue surrounding real estate policy impacts together with the origins and general taxonomy of extant real estate policies in sub-Saharan Africa. Adopting a quantitative approach to knowledge claim and research, empirical data on the operational variables identified in the devised measuring framework were obtained and plugged into ' the framework to estimate the quantitative dimensions of the impacts of sub-Saharan Africa real estate policies using Ghana as a case study site. The empirical results show that the impacts of extant real estate policies in Ghana are not heading in the same direction. They are instead dependant on the regulative, distributive and redistributive qualities of the policies to the extent that regulative policies engender the most negative (deficit) impacts followed somewhat by redistributive policies. On the converse distributive real estate policies tend to produce the most positive quantitative impacts in the study area. The costs of compliance and administration of policies came up as the critical determinant of the overall impacts of the policies. Based on these findings recommendations for improvement in policy practices as well as for further studies are submitted.
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en
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A thesis submitted in partial fulfilment of the requirements of the University of Wolverhampton for the degree of Doctor of Philosophy