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The private provision of capital for public housing development: A cost—benefit study of the Seoul housing project
Author(s) -
Shin Roy W.
Publication year - 1995
Publication title -
public administration and development
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.574
H-Index - 44
eISSN - 1099-162X
pISSN - 0271-2075
DOI - 10.1002/pad.4230150106
Subject(s) - underpinning , economic shortage , economics , public housing , business , public economics , point (geometry) , private capital , process (computing) , economic growth , government (linguistics) , production (economics) , microeconomics , linguistics , philosophy , civil engineering , geometry , mathematics , computer science , engineering , operating system
This study analyses the programme impact of a strategic decision to privatize public housing development. It provides theoretical insights and assesses the ‘filtering’ (trickle down) theory of housing development underpinning this strategy. Analysis of distributional effects ensuing from the project demonstrates that developmental benefits (additional supply of housing) have simply filled the demand of those who can cater to the forces of the marketplace. Furthermore, macroeconomic determinants, acute shortages and distributional problems in the housing market that typically characterize urban centres in developing countries counteract that filtering process. The consequences of this privatization strategy point to potential costs and benefits of future policy options.