Housing Finance and Inclusive Growth in Africa : Benchmarking, Determinants, and Effects
Using a partially constructed panel database of 48 Sub-Saharan African countries from 2000 to 2013, this paper analyzes the structure of housing finance in Africa, its determinants, and its impact on inclusive growth. The findings show that market...
| Main Authors: | , , |
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| Format: | Working Paper |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2017
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/921351480963538993/Housing-finance-and-inclusive-growth-in-Africa-benchmarking-determinants-and-effects http://hdl.handle.net/10986/25801 |
| Summary: | Using a partially constructed panel
database of 48 Sub-Saharan African countries from 2000 to
2013, this paper analyzes the structure of housing finance
in Africa, its determinants, and its impact on inclusive
growth. The findings show that market capitalization and
urbanization are key positive determinants of housing
finance, and the post-conflict environment is conductive to
greater housing finance development. This result suggests
that housing finance is driven by standard market forces of
demand and supply. In addition, the analysis finds that
housing finance development in Africa is not yet an
effective tool for reducing economic inequality, at its
current, very early stage. However, the paper shows that
above a given threshold, housing finance could be efficient
at reducing inequality. Finally, there is a slightly
positive relationship between housing finance and greater
economic development in Africa. All these findings suggest
that policies to boost housing finance development in Africa
would be fruitful in the medium to long terms. |
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