By FAY SIMMONS
TRIBUNE Business Reporter
jsimmons@tribunemedia.net
A BAHAMIAN economics professor yesterday argued that this nation urgently needs land reform to address insecure property ownership and policies that are creating “land barons” while adding to housing pressures.
Rupert Pinder, University of The Bahamas associate professor of economics, told the Exuma Business Outlook conference that The Bahamas’ approach to land ownership is undermining investment opportunities and concentrating benefits among a select few, despite this nation having a relatively low population density.
“The quieting of land, we create a lot of land barons,” he said, questioning how property can serve as a source of investment without adequate protection of ownership rights.
“There are people going around clearing on people's land and just squatting on it,” Mr Pinder added, arguing that existing policies had failed to resolve fundamental problems surrounding land ownership.
He also questioned the reduction of the adverse-possession period from 20 years to 12 years, arguing that the change has not solved the underlying issues. “How does that solve the problem?” he asked.
Mr Pinder said the Government was the country's largest land owner through its Crown Land resources, yet the existing arrangements are, in his view, empowering a select few at a time when many Bahamians faced land and housing pressures.
He argued that secure property rights are essential to encouraging investment and enabling Bahamians to use land as an economic asset.
The economist also questioned why a country with such a low population density continued to experience significant pressure on land and housing, arguing that sensible policies were needed to address the problem.
Comparing population density across the region, Mr Pinder noted that New Providence had approximately 105 people per square mile, while Barbados had more than 1,700 and Dominica approximately 226.
He said the comparisons highlighted the need to examine the policies governing land access and development rather than simply accept existing housing and land pressures as inevitable.
Land reform is also linked to his broader argument that the Family Islands need to develop stronger economic bases of their own, creating more opportunities for local ownership, employment and investment.
Mr Pinder said developing distinct economic centres across the Family Islands can create opportunities for Bahamians to establish businesses and benefit more directly from tourism and related industries.
For example, he said, a small resort could generate demand for a local bakery, laundry and other services, creating additional businesses and economic activity beyond the accommodation provider itself.
He argued that such opportunities will help spread economic activity beyond the country's principal centres and support wider ownership of the economy.
Mr Pinder's call for land reform formed part of a wider presentation on what he described as “Bahamian exceptionalism”, in which he argued that the country should assess its performance against its economic potential rather than simply compare itself with other nations.
He said land ownership, housing, infrastructure and economic diversification require greater attention if The Bahamas is to make better use of its resources and opportunities.