ABSTRACT
Colonialism had a significant impact on the development and exploitation of Africa’s natural resources. Since colonialism, poorly defined or specified property rights in Africa’s environmental resources have allowed the latter to be overexploited for the benefit of the European economies. To ensure sustainable use of the continent’s environmental resources, African countries must engage their societies in reforms to create complete property rights regimes that are consistent with the people’s values; relationship with the environment; traditions and customs; and concept of equity. Economists generally argue that the ‘scope and content of property rights assignments over resources affect the way that people behave in a world of scarcity’. An important function of property rights is to help internalize externalities. Well-defined and well-enforced property rights regimes are very important for the efficient allocation of environmental resources. Private ownership, especially of environmental resources, was expected to minimize overexploitation through the effective control of access.
