Housing Finance Systems Market Failures and Government Failures

The term 'housing crisis' has recently been associated with rising foreclosure rates and tottering financial institutions, particularly in the US and Europe. However, in many emerging countries, the housing crisis is about urban poverty, unplanned settlem

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Housing Finance Systems Sock-Yong Phang

Market Failures and Government Failures

Copyright material from www.palgraveconnect.com - licensed to University of Pennsylvania Library - PalgraveConnect - 2013-07-07

Housing Finance Systems

10.1057/9781137014030 - Housing Finance Systems, Sock-Yong Phang

10.1057/9781137014030 - Housing Finance Systems, Sock-Yong Phang

Copyright material from www.palgraveconnect.com - licensed to University of Pennsylvania Library - PalgraveConnect - 2013-07-07

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Market Failures and Government Failures Sock-Yong Phang Professor of Economics, Singapore Management University

10.1057/9781137014030 - Housing Finance Systems, Sock-Yong Phang

Copyright material from www.palgraveconnect.com - licensed to University of Pennsylvania Library - PalgraveConnect - 2013-07-07

Housing Finance Systems

© Sock-Yong Phang 2013 Foreword © Changyong Rhee 2013

No portion of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, Saffron House, 6–10 Kirby Street, London EC1N 8TS. Any person who does any unauthorized act in relation to this publication may be liable to criminal prosecution and civil claims for damages. The author has asserted her rights to be identified as the author of this work in accordance with the Copyright, Designs and Patents Act 1988. First published 2013 by PALGRAVE MACMILLAN Palgrave Macmillan in the UK is an imprint of Macmillan Publishers Limited, registered in England, company number 785998, of Houndmills, Basingstoke, Hampshire RG21 6XS. Palgrave Macmillan in the US is a division of St Martin’s Press LLC, 175 Fifth Avenue, New York, NY 10010. Palgrave Macmillan is the global academic imprint of the above companies and has companies and representatives throughout the world. Palgrave® and Macmillan® are registered trademarks in the United States, the United Kingdom, Europe and other countries. ISBN: 978–1–137–01402–3 This book is printed on paper suitable for recycling and made from fully managed and sustained forest sources. Logging, pulping and manufacturing processes are expected to conform to the environmental regulations of the country of origin. A catalogue record for this book is available from the British Library. A catalog record for this book is available from the Library of Congress. 10 9 8 7 6 5 4 3 2 1 22 21 20 19 18 17 16 15 14 13 Printed and bound in Great Britain by CPI Anto