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Land Prices Heading Skyward? An Analysis of Farmland Values across Tanzania
Author(s) -
Wineman Ayala,
Jayne Thomas S
Publication year - 2018
Publication title -
applied economic perspectives and policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.4
H-Index - 49
eISSN - 2040-5804
pISSN - 2040-5790
DOI - 10.1093/aepp/ppx038
Subject(s) - tanzania , urbanization , incentive , land values , economics , agricultural economics , work (physics) , land use , land price , geography , agricultural land , population , heading (navigation) , population growth , natural resource economics , agriculture , economic growth , socioeconomics , market economy , ecology , mechanical engineering , demography , archaeology , sociology , engineering , biology , geodesy
Land markets are developing rapidly in Africa, though there remains a dearth of analysis regarding the direction and correlates of land prices and their implications for public policy in the region. This paper examines trends in land values and the factors influencing these trends in Tanzania. Real land prices rose significantly between 2009 and 2013 by 5.67% per year. A hedonic analysis of land values suggests that improved incentives for farming, urbanization and rising population density, and improved tenure security are possible drivers of rising land prices. We conclude by considering the potential policy implications arising from this work.