Demystifying the Valuation of Customary Land
Spike Boydell
This paper breaks down the myths and mystique that surround the valuation of customary land, whilst appreciating inalienable notions of land held by the customary stewards (or guardians) are very much at odds with the commodity view of the West that emphasises individual ownership. We deconstruct the tensions associated with the valuation of customary land through a property rights approach. We develop our arguments within a realistic scenario for two villages in a hypothetical Pacific Island Nation that is confronted by many of the sustainable development challenges affecting Pacific SIDS (small island developing states). After providing a stakeholder analysis of the competing interests of land holders (customary owners), land users (tourism, forestry, agriculture and nuclear waste), state actors and agencies, and outside investors, we test the efficacy of the International Valuation Standards to ascribe economic value to the competing and overlapping property rights of the parties. The key contribution of the paper is that it demystifies the valuation of customary land by presenting clear and appropriate tools for the appraisal of a range of realistic sustainable development challenges confronting PICs, SIDS and emerging economies. It will provide a useful resource to government officers, trustees and private practitioners confronting development challenges.
Event: Annual World Bank Conference on Land and Poverty 2015
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