AbstractConstruction is not the best use of capital when the objective is to make jobs, and loanable funds are scarce. Construction is more capital-intensive than labor-intensive. In addition, we presently have a glut of finished but unused buildings, the result of years of fiscal bias that has diverted investors from working capital to construction. Lenders have also been diverted by the use of soaring and volatile land values as collateral. The solution is to reverse the fiscal biases, which are identified, and apply selective credit controls to lenders, keeping them away from depending on real estate collateral.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by University of California at Riverside, Department of Economics in its series Working Papers with number 200903.
Length: 6 pages
Date of creation: Jan 2009
Date of revision: Jan 2009
Find related papers by JEL classification:
- E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Capital; Investment; Capacity
- H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
This paper has been announced in the following NEP Reports:
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jeff Oldfield) The email address of this maintainer does not seem to be valid anymore. Please ask Jeff Oldfield to update the entry or send us the correct address.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.