The Role of Affordable Mortgages in Improving Living Standards and Stimulating Growth: A Survey of Selected MENA Countries

 
Author/Editor: Erbas, S. Nuri ; Nothaft, Frank E.
 
Publication Date: February 01, 2002
 
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Summary: This paper argues that making affordable home mortgage loans available to a large cross section of the population will serve both the redistributive and growth-enhancing objectives of poverty reduction policies. The current state of housing and mortgage markets in selected Middle East and North Africa (MENA) countries (Algeria, Egypt, Jordan, Morocco, and Tunisia) is examined. The study evaluates Turkey and Mexico as middle-income comparator countries. Historical experience of the United States is also described. Simulations based on U.S. parameters provide some guide to the effects on economic growth of alleviating housing shortages by improving access to mortgage financing.
 
Series: Working Paper No. 02/17
Subject(s): Economic growth | Algeria | Egypt | Jordan | Mexico | Morocco | Tunisia | Turkey | United States | Poverty | Social safety nets

Author's Keyword(s): housing supply | mortgage finance availability | growth | poverty
 
English
Publication Date: February 01, 2002
ISBN/ISSN: 1934-7073 Format: Paper
Stock No: WPIEA0172002 Pages: 41
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