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HOUSING FINANCE and INCLUSIVE GROWTH: Benchmarking, Determinants and Effects

Author

Listed:
  • Christian Lambert Nguena

    (Association of African Young Economists)

  • Fulbert Tchana Tchana

    (The World Bank)

  • Albert Zeufack

    (The World Bank Group)

Abstract

Using panel database of 48 Sub-Saharan African countries from 2000 to 2013, this paper analyses the structure of housing finance in Africa, its determinants, and its impact on inclusive growth. Our empirical investigation provides the following findings regarding each questions of interest. Specifically, we find that market capitalization and urbanization are key positive determinants of housing finance while a post-conflict environment is conductive for greater housing finance development – this result suggests that housing finance is driven by demand and supply as any standard market. Besides, we find that housing finance development in Africa is not yet an effective tool for inequality reduction, given that it remains at a very earlier stage; however, we show that above a given threshold housing finance could be efficient for inequality reduction. Finally, housing finance is loosely positively related to greater economic development in Africa. All these findings suggest that policies to boost housing finance development in Africa should be viewed as measures that would yield fruit in the medium to long terms.

Suggested Citation

  • Christian Lambert Nguena & Fulbert Tchana Tchana & Albert Zeufack, 2015. "HOUSING FINANCE and INCLUSIVE GROWTH: Benchmarking, Determinants and Effects," AAYE Policy Research Working Paper Series 15_027, Association of African Young Economists, revised Feb 2015.
    • Handle: RePEc:aay:wpaper:15_027
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    File URL: http://aaye.org/dmdocuments/AAYE_PR_WPS_N27.pdf
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    Citations

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    Cited by:

    1. Simplice A. Asongu, 2018. "Conditional Determinants of Mobile Phones Penetration and Mobile Banking in Sub-Saharan Africa," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 9(1), pages 81-135, March.
    2. Simplice A. Asongu & Jacinta C. Nwachukwu & Aqsa Aziz, 2018. "Determinants of Mobile Phone Penetration: Panel Threshold Evidence from Sub-Saharan Africa," Journal of Global Information Technology Management, Taylor & Francis Journals, vol. 21(2), pages 81-110, April.

    More about this item

    Keywords

    Housing Finance; Sub-Saharan Africa; inclusive growth; Shared prosperity;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • R1 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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