The World Bank and the Globalisation of Housing Finance
Mortgaging Development
Liam Clegg
Extract
World Bank lending for housing into state socialist housing systems was focused predominantly through the 1990s. In addition to providing a review of transformations in state socialist systems across the former Soviet Union and its near neighbourhood, the movements in China towards a market-based socialist model are reviewed. While across the former Soviet Union and its neighbourhood World Bank efforts to support the creation of marketised systems have achieved variable levels of success, in the case of China deep transformation has been realised. Nonetheless, concerns are flagged over the extent to which the housing needs of low-income groups have been incorporated into both World Bank lending and these reformed systems overall.
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