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As urbanization progresses at a remarkable pace, policy makers and
analysts come to understand and agree on key features that will
make this process more efficient and inclusive, leading to gains in
the welfare of citizens. Drawing on insights from economic
geography and two centuries of experience in developed countries,
the World Bank's World Development Report 2009: Reshaping Economic
Geography emphasizes key aspects that are fundamental to ensuring
an efficient rural-urban transformation. Critical among these are
land, as the most important resource, and well-functioning land
markets. Regardless of the stage of urbanization, flexible and
forward-looking institu- ons that help the efficient functioning of
land markets are the bedrock of succe- ful urbanization strategies.
In particular, institutional arrangements for allocating land
rights and for managing and regulating land use have significant
implica- ons for how cities deliver agglomeration economies and
improve the welfare of their residents. Property rights,
well-functioning land markets, and the management and servicing of
land required to accommodate urban expansion and provide trunk
infrastructure are all topics that arise as regions progress from
incipient urbani- tion to medium and high density.
As urbanization progresses at a remarkable pace, policy makers and
analysts come to understand and agree on key features that will
make this process more efficient and inclusive, leading to gains in
the welfare of citizens. Drawing on insights from economic
geography and two centuries of experience in developed countries,
the World Bank's World Development Report 2009: Reshaping Economic
Geography emphasizes key aspects that are fundamental to ensuring
an efficient rural-urban transformation. Critical among these are
land, as the most important resource, and well-functioning land
markets. Regardless of the stage of urbanization, flexible and
forward-looking institu- ons that help the efficient functioning of
land markets are the bedrock of succe- ful urbanization strategies.
In particular, institutional arrangements for allocating land
rights and for managing and regulating land use have significant
implica- ons for how cities deliver agglomeration economies and
improve the welfare of their residents. Property rights,
well-functioning land markets, and the management and servicing of
land required to accommodate urban expansion and provide trunk
infrastructure are all topics that arise as regions progress from
incipient urbani- tion to medium and high density.
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