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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.
Authorized for Distribution: February 1, 2002
Electronic Access: Free Full Text (PDF file size is 1,292KB)
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.

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  
    Published:   February 1, 2002        
    ISBN/ISSN:   1934-7073   Format:   Paper
    Stock No:   WPIEA0172002   Pages:   41
    Price:   US$15.00
       
     
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