英文文献：HOUSING FINANCE and INCLUSIVE GROWTH: Benchmarking, Determinants and Effects
英文文献作者：Christian Lambert Nguena,Fulbert Tchana Tchana,Albert Zeufack
英文文献摘要：
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.