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

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  • Mr. Frank E. Nothaft
  • Mr. S. Nuri Erbas

Abstract

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.

Suggested Citation

  • Mr. Frank E. Nothaft & Mr. S. Nuri Erbas, 2002. "The Role of Affordable Mortgages in Improving Living Standards and Stimulating Growth: A Survey of Selected Mena Countries," IMF Working Papers 2002/017, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2002/017
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    References listed on IDEAS

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    1. Ms. Rina Bhattacharya & Tarik Yousef & Mr. Pierre Dhonte, 2000. "Demographic Transition in the Middle East: Implications for Growth, Employment, and Housing," IMF Working Papers 2000/041, International Monetary Fund.
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    Cited by:

    1. Christian Lambert Nguena & Fulbert Tchana Tchana & Albert Zeufack, 2024. "On threshold effect of housing finance on shared prosperity: Evidence from sub‐Saharan Africa," Bulletin of Economic Research, Wiley Blackwell, vol. 76(1), pages 5-40, January.
    2. Arshad Khan, Muhammad, 2003. "Role of Banks in Housing in Finance," MPRA Paper 6524, University Library of Munich, Germany.

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