Building Prosperity Housing and Economic Development 1st Edition by Anna Kajumulo Tibaijuka 1844076326 9781844076321

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ISBN 10: 1844076326

ISBN 13: 9781844076321

Author: Anna Kajumulo Tibaijuka

This book is a much-needed account, with numerous detailed examples, of the role of housing in economic growth and development by an author in a unique position to understand its importance and the practical measures for delivering that growth. While the linkages between housing and the macroeconomic environment in developed countries has been studied, the case of developing and transitional countries has been mostly overlooked. The author establishes these linkages with great clarity, supported by detailed case studies chosen to reflect regional diversity as well as differences in socio-economic development and political systems. On the basis of this analysis, the author goes on to develop specific policies and practices to enable governments to enhance the contribution of housing in economic growth.

Building Prosperity Housing and Economic Development 1st  Table of contents:

1 The Centrality of Housing to Economic Development

1.1 Introduction

1.2 Rapid and Chaotic Urbanization

1.3 Globalization

1.4 Housing as a Catalyst for Economic Growth and Development

1.5 Poverty Reduction Strategy Papers

1.6 The Key Thesis of the Book

1.7 Objectives and Structure of the Book

Note

2 A Conceptual Framework for Understanding Housing and Economic Development

2.1 Introduction

2.2 Dynamic Factors of Housing Investments

2.2.1 Housing demand framework

2.2.2 Economic development models

2.2.3 Stages of economic development

2.2.4 The nature of the political and economic system

2.2.5 Macroeconomic variables

2.2.6 Macroeconomic institutions

2.3 Implications of Housing Investments

2.3.1 Direct positive effects

Residential investments

2.3.2 Indirect positive effects

2.3.3 Housing investment and the MDGs/PRSPs framework

2.3.4 Negative effects

3 Historical Evolution of Ideas on Housing and Economic Development

3.1 Introduction

3.2 Early Debates and Issues Surrounding Housing Policy

3.3 Social Housing Policy

3.4 Slum Upgrading Programmes

3.5 Site-and-Service Programmes

3.6 The Enabling Approach and Urban Management

3.7 Recent Perspectives on Housing and Economic Development

3.7.1 The sustainable urban development phase

3.7.2 The Habitat II phase

3.7.3 The Millennium Development Declaration phase

3.7.4 The Istanbul +5 phase

3.7.5 Upgrading the Habitat Center to a UN Programme

3.8 Revitalization of Human Settlements’ Financing Activities

3.8.1 The Slum Upgrading Facility

3.8.2 The Water and Sanitation Trust Fund

3.8.3 Experimental reimbursable seeding operations

3.8.4 Women Land Access Trusts

Case Studies

3.9 Summing

Notes

4 Housing as a Source of Economic Development

4.1 Overview of Early Views and Approaches

4.2 The Influence of Housing Activities on Economic Development

4.2.1 Direct impacts of housing development

Housing as a tool of economic management

Impacts of housing activities on economic growth and capital formation

Employment impacts in the process of housing provision

Housing as a contributor to savings and domestic financial mobilization

The welfare and health dimensions of housing

4.2.2 Indirect impacts of housing development

4.3 The Importance of Housing in National Development Planning

4.3.1 Housing as a share of government expenditure

4.3.2 Housing as a share of international development lending

4.3.3 The importance of housing to poverty reduction strategies

4.3.4 Housing as a source of innovation, technology and aesthetic improvement

Case Studies

Notes

5 Housing Finance and Development

5.1 Introduction

5.2 Housing Finance and Development

5.3 Types and Sources of Housing Finance

5.3.1 Conventional mortgage finance

5.3.2 Housing subsidies

5.3.3 Housing microfinance

Types of HMF programmes

5.3.4 Migrant remittances

5.3.5 Informal finance

5.4 Organizations Involved in the Provision of Housing Finance

5.5 Summing Up

Notes

6 Housing as a Social Policy Instrument

6.1 Introduction

6.2 Developing Countries

6.2.1 Context

6.2.2 Drivers of housing policy

6.2.3 Phases of housing policy

Public housing

Site-and-service or aided self-help housing

Regularization of tenure

Enablement, partnership and multisectoralism

6.3 Transition Countries

6.3.1 Context

6.3.2 Drivers of housing policy

6.3.3 Phases of housing policy

Housing in the socialist system

Marketization in the socialist system

Privatization in the transition period

The development of risk-based housing finance systems

Emphasis on middle-income subsidies

6.4 Developed Countries

6.4.1 Context

6.4.2 Drivers of housing policy

6.4.3 Phases of housing policy The promotion of ‘mass’ social rented housing

From general to selective subsidies

The promotion of home-ownership

Is there a policy collapse?

6.5 Summing Up

Notes

7 Conclusions and Recommendations

7.1 Introduction

7.2 Housing as a Source of Sustainable Economic Development

7.2.1 Key policy lessons

7.2.2 Policy recommendations

Envision a larger role for housing investment and provision

Establish appropriate targets for the housing sector

Link economic effects of housing investment to macroeconomic goals and objectives

Pay greater attention to relationships between macroeconomic and housing policies

Create a strong and effective institutional framework

Connect housing policy to broader poverty reduction strategies

Enable home-based enterprises (HBEs)

Reduce import content of building materials

Develop and promote appropriate building construction technology and materials

Support small-scale producers of housing and building materials

Promote better urban growth and management

Mainstream environmental concerns into housing investments

Enhance political commitment at the national level

7.3 Housing Finance and Development

7.3.1 Policy lessons and recommendations

The need to broaden research on housing finance

Land markets

Finance for land acquisition

Re-evaluate land servicing standards

Secure land tenure

7.3.2 Rental housing

Greater recognition of the role of rental housing

Supporting petty landlords

7.3.3 Residential mobility

7.4 Formal Housing Finance

Redesign formal housing finance instruments

Promote innovative partnerships

Address the issue of resources

7.5 Housing Microfinance

Address financial constraints

Subsidy is still required, but it should be directed on the basis of clear principles

Provide technical assistance, financial management skills and capacity

Maintaining consistent (public) support of programmes

Supporting finance-plus programmes

Greater organizational support for HMF

Avoiding the dangers of scaling up

7.6 Social Policy Dimensions of Housing Investments

7.6.1 Introduction

7.6.2 Key policy lessons for developing countries

The nature of housing as a social policy issue is becoming more urban

Poverty remains an underlying cause of inadequate housing

Housing is likely to have wider social and economic benefits

Inadequate housing is more than a manifestation of poverty

7.6.3 Policy recommendations for developing countries

Self-help remains the key to improving the housing conditions of the poor

Housing policy needs to be more refined

Urban housing policy should have a clear leader

7.6.4 Key policy lessons for transition countries

Housing as a social policy issue

Poverty limits the potential ‘reach’ of the housing finance system

Housing has played an important role in alleviating and combating poverty during the transition period

Price has been an enduring inequitable ‘insider/outsider’ divide

7.6.5 Policy recommendations for transition countries

Development of risk-based finance systems

Policy development must pay attention to context

There is a need to narrow the ‘insider/outsider’ divide

A wider range of policy instruments should be considered

7.6.6 Key policy lessons for developed countries The nature of housing as a social policy issue

Poverty remains an underlying cause of housing problems

Social rented housing can help to tackle poverty over generations

Social rented housing carries a danger of social segregation and can reinforce disadvantage

There are limits to the growth of home-ownership

7.6.7 Policy recommendations for developed countries

Surpluses built up by social landlords should be deployed in an effective and equitable way

It is important for governments to respond to the inequalities that arise from housing wealth

Pursue with caution the widening access to home-ownership and investigate other ways to distribute housing wealth

Improving housing finance and accessibility

Development of social housing

Development of effective public-private partnerships

The need for further research to establish the contributions of housing investments to sustainable economic development

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