View Research by Author - Sonia Ignatova

Citation URL: http://www.urban.org/SoniaIgnatova

International experience suggests that there is a strong causal link between housing demand, housing finance, financial sector development and economic growth. Yet, a housing market cannot flourish without mortgage finance, which allows all but the poorer segments of the population to purchase, expand or improve their homes, or to use the equity in their homes for other purposes, such as major purchases, college education, travel or investment. There is now growing recognition of these connections among policy-makers in developing and transition countries, and among international development donors who wish both to strengthen financial markets and to improve the economic well-being of citizens in their client countries. This paper provides an overview of the constraints and opportunities for condominium housing and mortgage lending in emerging markets.

The conceptual and legal framework for the development of an effective system of local governance in Pakistan was created in July 2001, and a review of the Local Government Ordinance of 2001 reveals that the rules and procedures to govern the process have been set in place. Yet, four and a half years into devolution, political decentralization has not been followed by adequate administrative and fiscal decentralization to ensure quality service delivery to the public. This report assesses the progress and challenges of effective and efficient service delivery in the health, education, and water sectors, local fiscal roles and responsibilities, and local government accountability and citizen participation under devolution. Conclusions presented in the report focus on "governance" issues impeding successful devolution. Many of the recommendations are aimed at donor organizations and several are already being addressed by ongoing USAID projects.

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