Episode 41: Acquisition of Property in the Philippines
In the Philippines, the problems of property rights
are complex. Dr.
Arturo Corpuz, vice president for Urban and Regional
Planning of Ayala Land, draws from personal experience
and speaks about land acquisition problems. He discusses
how property rights are meaningful only to the extent
that you can utilize the land and extract value from
it. Unfortunately difficulties with ownership, documentation
and process, zoning and access hamper the realization
of property’s full potential.
This does serious damage to economic development.
Land that could be used commercially but is tied up
in red tape and litigation is dead capital. The amount
of dead capital in the country is staggeringly high.
This is one of the causes of poor economic performance,
but most people are not aware of it.
Dr. Corpuz also touches on possible solutions, but
states that these are unlikely without adequate infrastructure
and institutional reforms.
The music is provided by Dieter
Bachmann and Dan-O.
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