Economic Analysis of Housing Markets in Developing and Transition Economies
AbstractThe purpose of this chapter is to survey recent research on housing markets and policy in what used to be called the "second" and "third" worlds. We adopt the labels "transition" economies to refer to countries as disparate as Russia and Vietnam, and "developing" to refer to countries as disparate as Korea and Singapore (arguably now developed) and countries like Mozambique and Laos. It is therefore quite interesting that the bulk of the research surveyed finds that housing market behavior is remarkably similar from place to place. Institutions and constraints, particularly the amount of income available for housing and other goods and services certainly do vary dramatically from place to place. And the stakes of how well housing markets work vary from place to place. But these differences in institutions and constraints do not obscure regularities in behavior. The first major section, on housing markets (Section 2), examines property rights, supply, demand and tenure. Section 3 presents research on the related markets for land, finance and infrastructure. Housing policy is covered in Section 4, including housing subsidy systems, privatization, taxation and regulation. Section 5 concludes with a discussion of current issues and research.
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Bibliographic InfoPaper provided by University of Wisconsin Center for Urban Land Economic Research in its series Wisconsin-Madison CULER working papers with number 96-11.
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Other versions of this item:
- Malpezzi, Stephen, 1999. "Economic analysis of housing markets in developing and transition economies," Handbook of Regional and Urban Economics, in: P. C. Cheshire & E. S. Mills (ed.), Handbook of Regional and Urban Economics, edition 1, volume 3, chapter 44, pages 1791-1864 Elsevier.
- R1 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics
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- Juan Carmona Pidal & Markus Lampe & Joan R. Roses, 2011. "Spanish housing markets during the first phase of the rural-urban transition process," Working Papers in Economic History wp11-08, Universidad Carlos III, Departamento de Historia Económica e Instituciones.
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- Richard Arnott, 2008. "Housing policy in developing countries. The importance of the informal economy," Working Papers 200801, University of California at Riverside, Department of Economics, revised Jan 2008.
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- Stephen Malpezzi, 2000. "Tales from the Real Side: The Implications of Urban Research for Real Estate Finance in Developing and Transition Economies," Wisconsin-Madison CULER working papers 01-02, University of Wisconsin Center for Urban Land Economic Research.
- repec:ner:carlos:info:hdl:10016/11931 is not listed on IDEAS
- Fontenla, Matas & Gonzalez, Fidel, 2009. "Housing demand in Mexico," Journal of Housing Economics, Elsevier, vol. 18(1), pages 1-12, March.
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