Housing and Housing Finance - A Review of the Links to Economic Development and Poverty Reduction
Doling, John; Vandenberg, Paul; Tolentino, Jade | August 2013
抄録
The paper provides a review of the literature that links housing, housing finance, and economic development. The housing sector may support poverty reduction and inclusive growth in two general ways. First, housing construction contributes to economic output, creates employment, and generates a demand for materials and related services. Second, improved housing raises the standard of living of occupants. At the same time, housing purchases are costly for individuals, constituting the most valuable asset owned by most households and often requiring housing finance (mortgages) to allow for purchase. These links— between housing and the economy and between housing and housing finance— are explored in this review paper. It finds that the benefits of housing for individuals accrue in large part indirectly through better health, based on improved water and sanitation. Housing also generates large multiplier effects in terms of employment and output. Employment is created for both skilled and poorer, unskilled workers. The evidence also suggests that there is a symbiotic relationship between housing finance and financial sector development. Housing finance helps to develop the financial sector (contributing to economic growth) and is also helped by financial sector development.
Citation
Doling, John; Vandenberg, Paul; Tolentino, Jade. 2013. Housing and Housing Finance - A Review of the Links to Economic Development and Poverty Reduction. © Asian Development Bank. http://hdl.handle.net/11540/2302. License: CC BY 3.0 IGO.ISSN
1655-5252
Keywords
Development Strategies
Equitable Development
Land Development
Construction Industry
Standard of living
Rural financing
Rural planning
Rent
Cost of living
Family budget
Economic security
Local Industry
Financial Services Industry
Public Works
Construction
Building Industry
Real estate development
Zoning
Local Industry
Personal budgets
Cost and standard of living
Domestic economic assistance
Household budgets
Wages and labor productivity
Building materials industry
Architects and builders
Housing projects
Vocational training
Property
Estates
Mortgage banks
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