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Household savings and residential mobility in informal settlements

Author

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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.

Suggested Citation

  • Lall, Somik V. & Suri, Ajay & Deichmann, Uwe, 2005. "Household savings and residential mobility in informal settlements," Policy Research Working Paper Series 3596, The World Bank.
  • Handle: RePEc:wbk:wbrwps:3596
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    References listed on IDEAS

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    Cited by:

    1. Orbeta, Aniceto Jr. C., 2006. "Children and Household Savings in the Philippines," Discussion Papers DP 2006-14, Philippine Institute for Development Studies.
    2. Orbeta, Aniceto Jr. C., 2007. "Impact of Children on Household Savings in the Philippines," Philippine Journal of Development PJD 2005 Vol. XXXII No. 2, Philippine Institute for Development Studies.

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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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