Housing Finance Across Countries : New Data and Analysis

Badev, Anton ; Beck, Thorsten ; Vado, Ligia ; Walley, Simon

World Bank, Washington, DC

关键词: ACCESS TO CREDIT;    ACCESS TO FINANCE;    ACCESS TO FINANCIAL SERVICES;    ACCESS TO MORTGAGE;    ACCOUNTING;   

DOI  :  10.1596/1813-9450-6756
RP-ID  :  WPS6756

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

This paper presents new data on thedepth and penetration of mortgage markets across countries.There is a large variation across both dimensions ofmortgage market development, across countries, but also --in terms of depth -- within countries. Mortgage markets seemto develop only at relatively high levels of gross domesticproduct per capita. Policies associated with financialsystem development are also associated with mortgage marketdevelopment, including price stability and the efficiency ofcontractual and information frameworks. The development ofthe insurance sector and the stock market, sources oflong-term funding, is strongly associated with mortgagemarket development, while government subsidies and supportare not. A benchmarking exercise compares the actual valuesof mortgage market development to values predicted bystructural country factors and shows a large variationacross countries and over time in the gap between predictedand actual values, related to specific policies but alsomortgage boom and bust cycles.