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Land policies are of fundamental \n importance to sustainable growth, good governance, and the \n well-being of, and the economic opportunities open to, both \n rural and urban dwellers - particularly the poor. To this \n end, research on land policy, and analysis of interventions \n related to the subject, have long been of interest to the \n Bank's Research Department, and other academic, and \n civil society institutions. The report aims to strengthen \n the effectiveness of land policy in support of development, \n and poverty reduction, by setting out the results of recent \n research in a way that is accessible to a wide audience of \n policymakers, nongovernmental organizations, academics in \n the Bank's client countries, donor agency officials, \n and the broader development community. Its main message \n rests on three principles: 1) provision of secure tenure to \n land improves the welfare of the poor, particularly by \n enhancing the asset base of those whose land rights are \n often neglected, and, creates incentives needed for \n investment, paramount to sustainable economic growth; 2) \n facilitation of land exchange, and distribution, whether as \n an asset or for current services, at low cost, through \n markets, and non-market channels, will expedite land access \n by productive, but land-poor producers, so that once \n economic growth improves, financial markets would rely on \n the use of land as collateral; and, 3) governments' \n contribution to the promotion of socially desirable land \n allocation, and utilization. The report discusses mechanisms \n to promote tenure security, demonstrates the importance of \n rental market transactions, arguing the removal of \n impediments to these can generate equity advantages, and \n positive investments. It also illustrates mechanisms, \n ranging from taxation, to regulation and land use planning \n to address these issues.