Capitalization by formalization? – Challenging the current paradigm of land reforms
Most of the land reforms in developing countries in recent decades follow a blueprint that is based on the property rights theory. This blueprint was supported by Western government-backed development aid institutions and the World Bank and intends to achieve a capitalization of property rights on land by formalization and individualization. Its supporters expect higher efficiency of the land markets and higher tenure security. The focus of the article is not so much on the formalization efforts themselves, but on the capitalization of the use rights.