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Wolverhampton Intellectual Repository and E-Theses > E-Theses > E-Theses > An Investigation into factors affecting housing finance supply in emerging economies: a case study of Nigeria

Please use this identifier to cite or link to this item: http://hdl.handle.net/2436/89154
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Title: An Investigation into factors affecting housing finance supply in emerging economies: a case study of Nigeria
Authors: Akinwunmi, Adeboye
Advisors: Gameson, Rod
Publisher: University of Wolverhampton
Issue Date: 2009
URI: http://hdl.handle.net/2436/89154
http://hdl.handle.net/2436/89155
Abstract: This study investigated factors affecting housing finance supply in Nigeria. Housing finance is a major factor determining the quality and tenure of housing consumption, the overall financial portfolio of the public and the stability and effectiveness of the financial system. In both developed and emerging economies, sovereign governments have intervened in the markets by setting up institutions characterised by a significant degree of regulation and segmentation from the rest of the financial markets and very often with governments providing subsidised housing finance. Attempts were made to develop an empirical model to reveal the underlying factors affecting housing finance in Nigeria. Time series data from sampled Universal Money Deposit Banks (UMDBs) balance sheets between 2003 and 2007 were used to assess the ability of the financial institutions to engage in long-term lending. Additional instruments in form of questionnaire, for the sectoral allocation of loans and advances by these financial institutions were employed to gather information from Corporate Banking / Loans and Advances Managers coupled with unstructured interviews. Supplementary questionnaires were directed to the users of housing finance at the household level as control for validity to the research findings. Applying a multiple regression approach, the model identified that housing finance supply in Nigeria is significantly driven by clusters of factors related to share capital and the reserves of the financial institutions. It is closely observed that housing finance models in the developed economies, which are largely financed by deposit liabilities, cannot be wholly adopted in the emerging economies. The implication for practice therefore is that financial institutions in the emerging economies must adequately increase their capital base for effective housing finance supply and introduce mortgage products with long-term tenure to actively mobilise resources for mortgage lending.
Type: Thesis or dissertation
Language: en
Description: A thesis submitted in partial fulfilment of the requirements of the University of Wolverhampton for the degree of Doctor of Philosophy
Keywords: Developed economies
Emerging economies
Empirical model
Financial liberalization
Financial market
Housing affordability
Housing finance supply
Housing market
Nigeria
Appears in Collections: E-Theses
E-Theses

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