African Knowledge Base(AKB) Platform
Integrated Essential Digital Resources on Africa

Urbanization and Housing Investment

There are no files associated with this item.
Appears in Collections:
World Bank (WB)

Abstract: This paper provides the first systematic empirical assessment of the pace at which housing investment has responded to rising demand from urbanization. The assessment used National Accounts Statistics to build a data set of residential housing investment for more than 90 countries. The data set explicitly accounts for investment by households, the government, and the private sector. The analysis finds that housing investment follows an S-shaped trajectory taking off around per capita GDP of about $3,000 (US$2005) and tapering down at per capita GDP around $36,000 (US$2005). The analysis also finds that between 2001 and 2011, housing investment in low-income economies averaged 4.56 percent of gross domestic product and 9.12 percent in upper-middle-income economies. An important finding is that countries in Sub-Saharan Africa have housing elasticities similar to comparable low-income and lower-middle-income economies. In financing housing investment, the paper finds that developing countries tend to rely much more on domestic savings and government debt, whereas high-income Organisation for Economic Co-operation and Development countries lever capital markets by tapping foreign savings. Not only does excessive reliance on domestic savings and government debt increase the sensitivity of housing investment to the cyclicality of growth of gross domestic product, it also can potentially crowd out investments in health and education.
Type: Publications & Research :: Policy Research Working Paper
Publications & Research
Link: http://hdl.handle.net/10986/20655
Subject: ACCOUNTING
AFFILIATED ORGANIZATIONS
AFFORDABLE HOUSING
AGRICULTURE
ASSET CLASS
AVAILABILITY OF CREDIT
BANKING SECTOR
BINDING CONSTRAINTS
BOND
BONDS
BUDGET CONSTRAINT
CAPITAL ACCUMULATION
CAPITAL FORMATION
CAPITAL GAINS
CAPITAL INVESTMENT
CAPITAL INVESTMENTS
CAPITAL MARKET
CAPITAL MARKET DEVELOPMENT
CAPITAL MARKETS
CAPITAL OUTLAYS
CD
CENTRAL BANK
CENTRAL BANK LENDING
CENTRAL GOVERNMENT DEBT
COMMODITIES
COMPETITIVENESS
CONSUMER PRICE INDEX
CONSUMPTION EXPENDITURES
COST OF FINANCE
COUNTRY TO COUNTRY
CREDIT MARKET
CURRENT ACCOUNT BALANCE
CURRENT ACCOUNT DEFICITS
DEBT
DEVELOPING COUNTRIES
DEVELOPING ECONOMIES
DEVELOPMENT POLICY
DISPOSABLE INCOMES
DOMESTIC BORROWING
DOMESTIC CAPITAL
DOMESTIC CAPITAL MARKET
DOMESTIC CREDIT
DURABLE
DURABLES
ECONOMETRIC ANALYSIS
ECONOMETRICS
ECONOMIC DEVELOPMENT
ECONOMIC DOWNTURN
ECONOMIC GEOGRAPHY
ECONOMIC RESEARCH
ECONOMICS
ELASTICITY
EMERGING ECONOMIES
EMERGING MARKETS
EQUIPMENT
EXPENDITURES
FINANCES
FINANCIAL CRISIS
FINANCIAL MARKET
FINANCIAL MARKETS
FINANCIAL PORTFOLIOS
FINANCIAL SECTOR
FINANCIAL SECTOR DEVELOPMENT
FOREIGN INFLOWS
FOREIGN INVESTMENT
FOREIGN INVESTMENTS
GDP
GNP
GOVERNMENT DEBT
GOVERNMENT EXPENDITURE
GROSS DOMESTIC PRODUCT
GROWTH RATE
HOME MORTGAGE
HOME OWNERSHIP
HOMEOWNERSHIP
HOUSING
HOUSING MARKETS
HOUSING POLICIES
HOUSING SUPPLY
INCOME
INCOME GROUP
INCOME GROUPS
INCOME LEVELS
INFLATIONARY PRESSURES
INFRASTRUCTURE DEVELOPMENTS
INSTITUTIONAL CAPACITY
INTEREST RATES
INTERNATIONAL BANK
INTERNATIONAL CAPITAL
INTERNATIONAL CAPITAL FLOWS
INTERNATIONAL CAPITAL MARKETS
INTERNATIONAL CAPITAL MOBILITY
INVENTORIES
INVESTING
INVESTMENT DECISIONS
INVESTMENT GROWTH
INVESTMENT IN BOND
INVESTMENT OPPORTUNITIES
INVESTMENT POLICIES
JOB CREATION
LIVING STANDARDS
LOCAL INVESTORS
LOCAL SAVINGS
LOW-INCOME ECONOMIES
MACROECONOMIC ADJUSTMENTS
MACROECONOMIC PERFORMANCE
MACROECONOMIC STABILITY
MARKET INTEREST
MARKET INTEREST RATES
MARKET PERFORMANCE
MARKET PRICES
MIDDLE INCOME COUNTRIES
MIDDLE INCOME COUNTRY
MIDDLE-INCOME COUNTRIES
MIDDLE-INCOME ECONOMIES
MONETARY AUTHORITY
MONETARY FUND
MONETARY POLICIES
MONETARY POLICY
MONEY SUPPLY
MORTGAGE
MORTGAGE DEBT
MORTGAGE LOANS
NASCENT MARKETS
NATIONAL DEVELOPMENT
OPEN MARKET
OPEN MARKET OPERATIONS
PER CAPITA INCOMES
POLITICAL ECONOMY
PORTFOLIO
PORTFOLIO INVESTMENTS
PORTFOLIOS
PRICE LEVELS
PRIVATE INVESTMENT
PROPERTY RIGHTS
PUBLIC BORROWING
PUBLIC INVESTMENT
PUBLIC INVESTMENTS
PUBLIC POLICY
RAPID INDUSTRIALIZATION
REAL ESTATE
REAL ESTATE FINANCE
REAL INTEREST
REAL INTEREST RATE
REAL INTEREST RATES
REGRESSION ANALYSIS
REGULATORY FRAMEWORKS
RESERVE
RESERVE REQUIREMENTS
RETURN
RETURNS
SAVINGS
SLUMS
SMALL ECONOMIES
STOCK MARKETS
TAX
TAX SUBSIDIES
TOTAL OUTPUT
URBAN DEVELOPMENT
URBAN ECONOMICS
URBANIZATION
VALUE ADDED
WEALTH
WEALTH EFFECTS
WORLD DEVELOPMENT INDICATORS




Country City Visitors