Based on the recent publication 'Implementing Value Capture in Latin America' the Director of the Latin American Program at Lincoln Institute of Land Policy, Martim Smolka, explains the mechanism of value capture and its sustainability prospects. Smolka focuses on a sample of emblematic cases in the Latin American region, with an analysis that considers the equity and efficiency content, and evaluates actual and potential revenues these instruments generate under different local institutional socio-political circumstances.
Everyone has a relationship to land. It is an asset that, with its associated resources, allows its owner access to loans, to build their houses and to set up small businesses in cities. In rural areas, land is essential for livelihoods, subsistence and food security. However, land is a scarce resource governed by a wide range of rights and responsibilities. And not everyone's right to land is secure. Mounting pressure and competition mean that improving land governance - the rules, processes and organizations through which decisions are made about land - is more urgent than ever.
Developing new land policies can be a long and difficult process. It is even more so if the policies are to be pro-poor – if they are to help correct the disadvantages that poor people typically suffer in many areas of land policy.