| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w13081 |
| 来源ID | Working Paper 13081 |
| Markets and Housing Finance | |
| Veronica Cacdac Warnock; Francis E. Warnock | |
| 发表日期 | 2007-05-09 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | We examine the extent to which markets enable the provision of housing finance across a wide range of countries. Housing is a major purchase requiring long-term financing, and the factors that are associated with well functioning housing finance systems are those that enable the provision of long-term finance. Across all countries, controlling for country size, we find that countries with stronger legal rights for borrowers and lenders (through collateral and bankruptcy laws), deeper credit information systems, and a more stable macroeconomic environment have deeper housing finance systems. These same factors also help explain the variation in housing finance across emerging market economies. Across developed countries, which tend to have low macroeconomic volatility and relatively extensive credit information systems, variation in the strength of legal rights helps explain the extent of housing finance. We also examine another potential factor--the existence of sizeable government securities markets--that might enable the development of emerging markets' housing finance systems, but we find no evidence supporting that. |
| 主题 | Financial Economics ; Financial Markets ; Financial Institutions ; Development and Growth ; Development |
| URL | https://www.nber.org/papers/w13081 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/570749 |
| 推荐引用方式 GB/T 7714 | Veronica Cacdac Warnock,Francis E. Warnock. Markets and Housing Finance. 2007. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w13081.pdf（125KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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