Housing Finance Policy in Emerging Markets

This report documented the importance of housing in the economy while at the same time providing governments with guidelines on how best to design policy to create efficient housing markets. The purpose of this book is to provide fact-based information and guidance to policy makers concerned with housing finance in emerging markets. An overarching goal is to improve the understanding of the importance of housing finance to the economy. This includes covering the prerequisites for an effective housing finance system together with the main characteristics of such a system. The book continues by laying out some of the policy alternatives and models of housing finance (products, infrastructure, risk management, regulations, and funding). In line with the priorities of many governments, the book is focused on solutions; in particular the role of government in contributing to the growth of housing finance and in increasing access to housing finance for lower and informal income households. The way taken to achieve these objectives is of the essence: they cannot be achieved, at least in a sustainable manner, by involving the creation of undue additional risks for the financial sector or eventually unbearable fiscal liabilities.

Bibliographic Details

Main Authors:	Chiquier, Loic, Lea, Michael
Language:	English
Published:	World Bank 2009
Subjects:	ACCOUNTING STANDARDS, AMORTIZATION, AMOUNT OF CREDIT, ASSET BACKED SECURITIES, ASSET CLASSES, AUCTION, BACKED SECURITY, BANKING CRISES, BANKING SECTOR, BANKRUPTCY, BASIS POINTS, BOND, BOND ISSUERS, BOND MARKETS, BORROWER, BROKERS, BUSINESS CYCLES, CAPITAL MARKET, CAPITAL MARKET FINANCING, CAPITAL MARKETS DEVELOPMENT, CAPITAL REQUIREMENTS, COLLATERAL, COMMERCIAL BANK, COMMERCIAL BANKS, COMMERCIAL MORTGAGE, COMMERCIAL MORTGAGE-BACKED SECURITIES, COMPLEX SECURITY, CONSUMER PROTECTION, CONTRACT DESIGN, CONTRACTUAL SAVING, CONTRACTUAL SAVINGS, CORPORATE GOVERNANCE, CREDIBILITY, CREDIT BUREAU, CREDIT BUREAUS, CREDIT COOPERATIVES, CREDIT ENHANCEMENTS, CREDIT GUARANTEE, CREDIT INFORMATION, CREDIT INFORMATION BUREAUS, CREDIT INFORMATION SYSTEMS, CREDIT RATING, CREDIT RATING AGENCIES, CREDIT RISK, CREDIT RISKS, CREDIT SYSTEMS, CREDITOR, CREDITORS, DEBT, DEFAULT RISK, DEFAULTS, DEPOSITS, DEVELOPING COUNTRIES, DEVELOPMENT BANK, DEVELOPMENT FINANCE, DIRECTED CREDIT, DOMESTIC FINANCIAL MARKETS, ECONOMIC DEVELOPMENT, EMERGING ECONOMIES, EMERGING MARKET, EMERGING MARKETS, ENFORCEMENT PROCEDURES, EXCESS LIQUIDITY, EXCHANGE COMMISSION, FINANCIAL CRISES, FINANCIAL INSTITUTIONS, FINANCIAL LIBERALIZATION, FINANCIAL MARKETS, FINANCIAL PERFORMANCE, FINANCIAL SECTOR DEVELOPMENT, FINANCIAL STABILITY, FINANCIAL STRUCTURES, FINANCIAL SYSTEM, FORECLOSURE, FOREIGN CURRENCY, FOREIGN EXCHANGE, GLOBAL CAPITAL, GLOBAL CAPITAL MARKETS, GOVERNMENT DEBT, GOVERNMENT DEBT MARKETS, GOVERNMENT INTERVENTION, GOVERNMENT POLICY, GOVERNMENT SECURITIES, GROSS DOMESTIC PRODUCT, GUARANTEE FUND, HOME MORTGAGE, HOME OWNERSHIP, HOMEOWNERSHIP, HOUSEHOLD WEALTH, HOUSING FINANCE, ILLIQUIDITY, INDIVIDUAL LOAN, INFLATION, INFLATION RISK, INFORMATION ASYMMETRY, INFORMATION TECHNOLOGY, INSTALLMENT SALES, INSTRUMENT, INSURANCE, INSURANCE PRODUCTS, INTEREST RATE, INTEREST RATES, INTEREST-RATE RISK, INTERNATIONAL BANK, INTERNATIONAL CAPITAL, INTERNATIONAL CAPITAL MARKETS, INTERNATIONAL DEVELOPMENT, INTERNATIONAL FINANCE, INTERNATIONAL SETTLEMENTS, INTERNATIONAL STANDARDS, INVESTMENT CORPORATION, INVESTMENT INSTRUMENTS, INVESTOR DEMAND, ISLAMIC FINANCE, JUDICIAL ENFORCEMENT,
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20090623013605 https://hdl.handle.net/10986/2641
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