Economic and Financial Review


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.

Author Bio

Dr. Uwatt B. Uwatt is the former Director, Research Department, Central Bank of Nigeria.

Publication Title

CBN Economic and Financial Review





Recommended Citation

Uwatt, U. B. (2019). Housing Sector, Economic Growth and Development: Conceptual Issues and Theoretical Underpinnings. CBN Economic and Financial Review. 57(4), 1-16.



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