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Housing Finance Policy under Dutch Disease Pressure: The Mortgage Market in Trinidad and Tobago


  • Sebastián Auguste
  • Ramiro Moya
  • Sandra Sookram


This work analyzes housing finance in Trinidad and Tobago during the last 20 years. The period covered is influenced by an economic bonanza led by the energy sector. Housing prices in this period skyrocketed, but the demand for mortgage loans was low. The results suggest that this is explained by affordability problems in the dynamics of the new post-shock equilibrium, as housing prices increased more rapidly than wages. Public housing finance also played a role, but in recent times it has been more prudently managed than during the previous boom of the 1970s.

Suggested Citation

  • Sebastián Auguste & Ramiro Moya & Sandra Sookram, 2011. "Housing Finance Policy under Dutch Disease Pressure: The Mortgage Market in Trinidad and Tobago," Research Department Publications 4745, Inter-American Development Bank, Research Department.
  • Handle: RePEc:idb:wpaper:4745

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    References listed on IDEAS

    1. Warnock, Veronica Cacdac & Warnock, Francis E., 2008. "Markets and housing finance," Journal of Housing Economics, Elsevier, vol. 17(3), pages 239-251, September.
    2. repec:idb:brikps:39438 is not listed on IDEAS
    3. Abhijit V. Banerjee & Esther Duflo, 2007. "The Economic Lives of the Poor," Journal of Economic Perspectives, American Economic Association, vol. 21(1), pages 141-168, Winter.
    4. Fernando A. Broner & Alberto Martin & Jaume Ventura, 2008. "Enforcement Problems and Secondary Markets," Journal of the European Economic Association, MIT Press, vol. 6(2-3), pages 683-694, 04-05.
    5. repec:idb:brikps:79340 is not listed on IDEAS
    6. Mario Cuevas & Sigfrido Lée & Bismarck Pineda, 2010. "Industrial Policy in Guatemala: A Case of Policy Inertia under Changing Paradigms," IDB Publications (Working Papers) 3027, Inter-American Development Bank.
    7. Eduardo Fernández-Arias & Fidel Jaramillo & Manuel R. Agosin & Gabriel Sánchez & Inés Butler & Juan S. Blyde & Armando Castelar Pinheiro & Christian Daude & Simón Cueva Armijos & Vicente Albornoz & Le, 2009. "Growing Pains: Binding Constraints to Productive Investment in Latin America," IDB Publications (Books), Inter-American Development Bank, number 39438 edited by Manuel R. Agosin & Eduardo Fernández-Arias & Fidel Jaramillo, February.
    8. repec:idb:idbbks:305 is not listed on IDEAS
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    More about this item

    JEL classification:

    • N96 - Economic History - - Regional and Urban History - - - Latin America; Caribbean
    • R2 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis
    • R28 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Government Policy

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