THE WORLD BANK AND THE GLOBALISATION OF HOUSING FINANCE
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- Author: LIAM CLEGG
- ISBN: 9781786435590
- Availability: In Stock
Buy THE WORLD BANK AND THE GLOBALISATION OF HOUSING FINANCE | Management Books
The World Bank remains one of the most prominent actors in
the field of global development, and one of the foremost international
organisations in contemporary global politics. Over its history, its lending
for housing has developed by prioritising financial sector expansion over the
needs of low-income groups. Through this book, Liam Clegg explores the factors
influencing change in the World Bank’s operational practices, and the
contribution of these operations to state transformations across the global
South.
The author outlines three main operational phases,
in which the Bank prioritised: improving informal settlements, strengthening
governments’ housing finance programs, and expanding mortgage markets.
Constrained experimentalism is identified as the driver of this changing focus,
with trial and error-based learning interacting with personnel shifts and
borrowers’ reform trajectories to shape outcomes. In addition to reviewing
relevant institutional dynamics at the World Bank, particular attention is paid
to the impact of projects on housing system transformations in Mexico, China,
and Tanzania. Overall, the declining focus on the housing needs of lower-income
populations leads Clegg to label World Bank lending in this area as an exercise
in mortgaging development.