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Housing Sector, Economic Growth and Development: Conceptual Issues and Theoretical Underpinnings

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  • Uwatt Uwatt

    (Central Bank of Nigeria)

Abstract

This article provides a theoretical overview of the contribution of housing sector in economic growth and development. The sector plays a very important role in the social and economic development of a country through its impact on major macroeconomic indicators such as: employment, savings, investment and labour productivity. After the introduction the article examined: conceptual issues on housing, economic growth and development; housing and economic growth and development: theoretical issues; housing, economic growth and development debate: historical perspective. The article concludes by recommending that: Governments in less-developed countries can intervene in the housing sector through comprehensive policies and large-scale investments, to effectively harness the growth benefits of the sector; economic development strategies can be developed to strategically situate housing as a tool for economic development; housing policies should be developed to look beyond welfare consideration given that that the housing sector is a leading economic sector.

Suggested Citation

  • Uwatt Uwatt, 2019. "Housing Sector, Economic Growth and Development: Conceptual Issues and Theoretical Underpinnings," Economic and Financial Review, Central Bank of Nigeria, vol. 57(4), December.
    • Handle: RePEc:ava:cbnefr:v:57:y:2019:i:4:a:4:p:
    as

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    File URL: https://dc.cbn.gov.ng/cgi/viewcontent.cgi?article=1020&context=efr
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    References listed on IDEAS

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