Authors: Franklin Obeng-Odoom*,
Topics: Asia, Land Use
Keywords: Indonesia, Commons, Valuation
Session Type: Paper
Start / End Time: 3:05 PM / 4:45 PM
Room: Washington 4, Marriott, Exhibition Level
Presentation File: No File Uploaded
Is title registration a pre-requisite for the valuation of land? Although institutional economists hold registration to be fundamental to valuation, interviews with Indonesian valuers suggest that unregistered land could be valued reasonably well. Together with the evidence that unregistered land serves a useful economic and social functions while the process of registering unregistered land is imbued with major transaction costs, including evictions and destructive speculation, the paper puts the case for investigating new ways of nourishing existing unregistered land. In doing so, this paper probes theories of land that contradict the idea that land must be privatised in the process of urban economic development.