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Household savings and residential mobility in informal settlements

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  • Lall, Somik V.
  • Suri, Ajay
  • Deichmann, Uwe

Abstract

Strategies to help the one billion people worldwide who live in informal settlements have mainly focused on slum upgrading, sites and services programs, and tenure security. In contrast, there has been less attention on what enables slum dwellers to transition into the formal housingsector, which has the dual benefits of improving service access and escaping social stigma. In this paper the authors investigate residential mobility among slum dwellers in Bhopal, India. Their analysis shows that one in five households succeeds in getting out of a slum settlement, and a major determinant is the household's ability to save on a regular basis. Due to limited outreach of institutional housing finance, most slum dwellers rely solely on household savings for purchasing a house. These findings underscore the urgent need to improve savings instruments for slum dwellers and to downmarket housing finance to reach the poorest residents of rapidly growing cities in developing countries.

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Bibliographic Info

Paper provided by The World Bank in its series Policy Research Working Paper Series with number 3596.

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Date of creation: 01 May 2005
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Handle: RePEc:wbk:wbrwps:3596

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Keywords: Housing&Human Habitats; Urban Housing; Banks&Banking Reform; Urban Services to the Poor; Urban Services to the Poor;

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  1. Jean O. Lanjouw & Philip I. Levy, 2002. "Untitled: A Study of Formal and Informal Property Rights in Urban Ecuador," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 112(482), pages 986-1019, October.
  2. Bertaud, Alain & Brueckner, Jan K., 2004. "Analyzing building height restrictions - predicted impacts, welfare costs, and a case study of Bangalore, India," Policy Research Working Paper Series 3290, The World Bank.
  3. Angus Deaton & Christina Paxson, 2000. "Growth and Saving Among Individuals and Households," The Review of Economics and Statistics, MIT Press, vol. 82(2), pages 212-225, May.
  4. Jalan, Jyotsna & Ravallion, Martin, 1999. "Income gains to the poor from workfare - estimates for Argentina's TRABAJAR Program," Policy Research Working Paper Series 2149, The World Bank.
  5. Buckley, Robert M. & Kalarickal, Jerry, 2004. "Shelter strategies for the urban poor : idiosyncratic and successful, but hardly mysterious," Policy Research Working Paper Series 3427, The World Bank.
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Cited by:
  1. Orbeta, Aniceto Jr. C., 2006. "Children and Household Savings in the Philippines," Discussion Papers, Philippine Institute for Development Studies DP 2006-14, Philippine Institute for Development Studies.

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