Housing Finance Policy in Emerging Markets [Paperback]

Loic Chiquier (Editor), Michael Lea (Editor)

Book Description

ISBN-10: 0821377507 | ISBN-13: 978-0821377505 | Publication Date: June 19, 2009

Housing finance markets have been changing dramatically in both emerging and developed economies. On the one hand, housing finance markets are expanding and represent a powerful engine for economic growth in many emerging economies. However, the unfolding sub-prime mortgage crisis highlights the risks and potential turbulence that this sector can introduce into the financial system when expanding without proper infrastructure and regulation. As housing finance keeps growing in emerging economies to match a rising demand for housing, new risk management approaches, business models, funding tools, and policy instruments can help. Yet many questions remain about the right balance between innovation and regulation, the extent of risks to the financial system, the appropriate role of the state to promote affordable housing, and the effects of the sub-prime crisis. This book provides a guide for policymakers dealing with housing finance in emerging markets. It highlights the prerequisites for an effective housing finance system; it lays out several policy alternatives and models of housing finance; and it explores the role of governments in expanding access to housing finance for lower-income households. There is no best model set out in this book. The aim is to provide a developmental roadmap that can be tailored and sequenced to each country s situation and timing.

Editorial Reviews

Review

This volume could not be more timely. The debacle of US subprime mortgage market is distorting the discussion around housing finance in emerging markets. To cut through the maze, this book offers insights around all the building blocks of a housing finance system including mortgage securitization and guides the reader through the different policy options available in each case and the most common mistakes policymakers must avoid...Having been actively involved in this topic as a policymaker in the past, I can say this book would have made our options more clear, our thinking more focused, and our decision-making faster, if we could have had this publication at that time. --Guillermo Babatz, President, Comisión Nacional Bancaria y de Valores, Mexico

Product Details

• Paperback: 320 pages
• Publisher: World Bank Publications (June 19, 2009)
• Language: English
• ISBN-10: 0821377507
• ISBN-13: 978-0821377505
• Product Dimensions: 8.9 x 6 x 1.2 inches
• Shipping Weight: 1.8 pounds (View shipping rates and policies)
• Amazon Best Sellers Rank: #1,570,761 in Books (See Top 100 in Books)