英语论文网

亚太地区正经历城市化、经济增长、贫困和环境恶化的多重情况。它拥有超过60％的世界人口最多的地区。在该地区约43％的总人口生活在城市地区，其中40％的人居住在贫民窟和生活在标准线上。在过去的30年间，亚太地区增加了5.6亿城市人口（即260％），预计未来30年，增加到1,450百万（即250％）。这一前所未有的城市化进程对城市和国家提出巨大的挑战，需要提供足够的住房和城市基础设施建设。 [1]

Financing Sustainable Housing And Urban Development Economics Essay

CHAPTER 2

LITERATURE REVIEW

This chapter deals with different ideas or opinion written on Housing sector in the economic development of different country in general and Rwanda in particular. This has been said to be important as it provides clear insight to the reader. In addition to that the chapter also show us the role played by Housing Bank in different country.

2.1. FINANCING SUSTAINABLE HOUSING AND URBAN DEVELOPMENT IN THE WORLD

Asia Pacific is experiencing multiple dynamics of urbanization, economic growth, poverty and environmental deterioration. It is the largest region with more than 60 percent of the world population. About 43 percent of the total population in the region lives in urban areas, of which 40 percent live in slums and substandard conditions. In the past 30 years, the urban population in Asia Pacific has increased by 560 million (i.e. 260 percent) and is expected to increase by 1,450 million (i.e. 250 percent) in the next 30 years. This unprecedented urbanization process puts great challenges on cities and countries to provide adequate housing and urban infrastructure. [1]

Housing and infrastructure development are in serious backlog. The need for financing housing and urban infrastructure in many Asia Pacific developing countries is immense. However, many countries face an overall scarcity of adequate funding. There are many reasons which lead to this huge funding deficit in housing and urban infrastructure.

Housing and urban infrastructure are not regarded as a productive sector and are given low priority in resource allocations. Local municipal governments often have very limited tax powers; their municipal revenues are low; they receive insufficient fiscal transfers from the central government. Local municipal governments? access to the capital market and debt financing is limited.

Although there is a wide range of funding instruments available in Asia Pacific, the funding options are limited for many individual developing countries. The majority of the Asia Pacific developing countries face significant challenges in their funding of housing and urban infrastructure. [2]

Financing is a key element which can determine the success of the future efforts in developing adequate housing and urban infrastructure in the developing countries of the region.

2.1.1. Housing Finance

The housing finance market development is at different stages for different countries. China, South Korea and Japan have a relatively well developed mortgage finance market. China has the largest mortgage finance market, followed by Japan. While some countries such as Mongolia recently just embarked on mortgage finance development. [3] The diversity of Asia provides a good arena for experimenting different finance instruments. This sectio