On the development of a real estate market: An Ivorian perspective

Africa Today
By Jean-Philippe Colin
English

Drawing on the experience of C?te d'Ivoire, this paper aims to contribute to the discussion on the conditions for the emergence and development of real estate markets. Property rights have become a central question in the economic approach to development. The market for the lease or purchase of land is thought to have a potentially critical role in the development process insofar as it can improve the allocation of production factors. The negative effects, from the standpoint of equity and efficiency, have often been blamed on the functioning of property markets, thus offering justification for land ownership policies that prohibit such markets or severely restrict their scope. These aspects constitute an area of interest for contemporary development economics, which considers them as resulting from a breakdown in the market environment (credit market, insurance market, etc.).

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