Housing Finance and Inclusive Growth in Africa : Benchmarking, Determinants, and Effects

Nguena, Christian-Lambert ; Tchana Tchana, Fulbert ; Zeufack, Albert G.

World Bank, Washington, DC

关键词: housing finance;    inclusive growth;    inequality;    shared prosperity;    urbanization;   

DOI  :  10.1596/1813-9450-7902
RP-ID  :  WPS7902

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

Using a partially constructed paneldatabase of 48 Sub-Saharan African countries from 2000 to2013, this paper analyzes the structure of housing financein Africa, its determinants, and its impact on inclusivegrowth. The findings show that market capitalization andurbanization are key positive determinants of housingfinance, and the post-conflict environment is conductive togreater housing finance development. This result suggeststhat housing finance is driven by standard market forces ofdemand and supply. In addition, the analysis finds thathousing finance development in Africa is not yet aneffective tool for reducing economic inequality, at itscurrent, very early stage. However, the paper shows thatabove a given threshold, housing finance could be efficientat reducing inequality. Finally, there is a slightlypositive relationship between housing finance and greatereconomic development in Africa. All these findings suggestthat policies to boost housing finance development in Africawould be fruitful in the medium to long terms.