Language:

Real Estate Regulations in Accra: Some Macroeconomic Consequences?

Urban studies (Edinburgh, Scotland), 2008-10, Vol.45 (11), p.2249-2271 [Peer Reviewed Journal]

World Bank ;Copyright Sage Publications Ltd. Oct 2008 ;ISSN: 0042-0980 ;EISSN: 1360-063X ;DOI: 10.1177/0042098008095867 ;CODEN: URBSAQ

Digital Resources/Online E-Resources

Citations Cited by

Actions
1. Add to My Research
2. Remove from My Research
3. E-mail
4. Print
5. Permalink
6. Citation
7. EasyBib
8. EndNote
9. RefWorks
10. Delicious
11. Export RIS
12. Export BibTeX

Title:
Real Estate Regulations in Accra: Some Macroeconomic Consequences?
Author: Buckley, Robert M. ; Mathema, Ashna Singh
Subjects: Accra, Ghana ; Cities ; Data analysis ; Economic development ; Economic Development: Regional, Urban, and Rural Analyses ; Economic growth ; Economic models ; Effectiveness ; Elasticity ; Elasticity of supply ; Housing ; Housing conditions ; Housing costs ; Housing demand ; Housing market ; Housing needs ; Housing policy ; Housing supply ; Housing Supply and Markets R310 ; Income ; Land ; Low income groups ; Macroeconomics ; Marketing ; Markets ; Mathematical models ; Per capita income ; Poor ; Poverty ; Price elasticity of supply ; Production Analysis and Firm Location: Government Policies ; Property ; Quantitative analysis ; Real estate ; Regulation ; Regulatory Policies R380 ; Responsiveness ; Sub-Saharan Africa ; Transportation O180 ; Urban economics ; Welfare ; Welfare costs ; World Bank
Is Part Of: Urban studies (Edinburgh, Scotland), 2008-10, Vol.45 (11), p.2249-2271
Description: Ghana has been one of the most rapidly growing economies in sub-Saharan Africa. This growth has been aided by Ghana's improving policy environment. In light of this, the paper addresses the question of why, given its higher level of per capita income and relatively strong growth, the housing conditions of the poor in Accra are considerably worse than those in a number of other African cities with lower incomes. There are not many data available to answer this question, so the method is indirect and takes two approaches. First, a variant of the monocentric city model is used to calculate Accra's housing supply elasticity relative to those of other similarly sized African cities. The model suggests that housing supply responsiveness is considerably lower in Accra, a result consistent with the observed higher housing costs. Secondly, a number of traditional housing demand and reduced-form equations are estimated for Accra and the other cities. This allows the formation of a quantitative judgment about Accra's housing supply elasticity. Taken together, the two approaches indicate that lower-income families in Accra have such poor housing conditions because the market is extremely unresponsive to demand. The welfare costs of current housing and land policies are considerable. The results suggest that making Accra's real estate market more responsive would go a long way towards improving the effectiveness of the broader policy environment. It would also no doubt improve the housing conditions of the poor and help to reduce the city's expanding footprint.
Publisher: London, England: Routledge Journal, Taylor & Francis Ltd
Language: English
Identifier: ISSN: 0042-0980
EISSN: 1360-063X
DOI: 10.1177/0042098008095867
CODEN: URBSAQ
Source: Open Knowledge Repository

Back to results list


INSPIRE LIBRARY - TON DUC THANG UNIVERSITY	(84-028) 37 755 057	Feedback
19 Nguyen Huu Tho St. Dist.7, HCM	thuvien@tdtu.edu.vn	Feedback

Real Estate Regulations in Accra: Some Macroeconomic Consequences?

World Bank ;Copyright Sage Publications Ltd. Oct 2008 ;ISSN: 0042-0980 ;EISSN: 1360-063X ;DOI: 10.1177/0042098008095867 ;CODEN: URBSAQ

Searching Remote Databases, Please Wait