Central Bank of Nigeria
Housing Finance, Mortgage Finance, Housing, Nigeria
This article provides a theoretical overview of the contribution of housing sector in economic growth and development. The sector plays a very important role in the social and economic development of a country through its impact on major macroeconomic indicators such as: employment, savings, investment and labour productivity. After the introduction the article examined: conceptual issues on housing, economic growth and development; housing and economic growth and development: theoretical issues; housing, economic growth and development debate: historical perspective. The article concludes by recommending that: Governments in less-developed countries can intervene in the housing sector through comprehensive policies and large-scale investments, to effectively harness the growth benefits of the sector; economic development strategies can be developed to strategically situate housing as a tool for economic development; housing policies should be developed to look beyond welfare consideration given that that the housing sector is a leading economic sector.
CBN Economic and Financial Review
Uwatt, U. B. (2019). Housing Sector, Economic Growth and Development: Conceptual Issues and Theoretical Underpinnings. CBN Economic and Financial Review. 57(4), 1-16.