Publication

Urbanization and Growth : Commission on Growth and Development

Buckley, Robert M, Annez, Patricia Clarke, Spence, Michael

2009

Overview

Structural change is a key driver of rapid growth: countries diversify into new industries, firms learn new things, people move to new locations. Anything that slows this structural change is also likely to slow growth. Because urbanization is one of the most important enabling parallel processes in rapid growth, making it work well is critical. Urbanization's contribution to growth comes from two sources: the difference between rural and urban productivity levels and more rapid productivity change in cities. In the early decades of development, when the majority of the population is still rural, the jump from rural to urban employment makes a big contribution to growth. As cities grow larger, the second effect faster gains in urban productivity - begins to dominate, as it operates on a larger base. Mortgages can improve households' ability to buy decent housing. But finance relaxes demand constraints only. Unless it is accompanied by measures to increase supply, better finance may result in overshooting prices. This volatility can jeopardize macroeconomic stability. In a typical pattern, strong income growth leads to a rapid increase in housing demand. An injection of liquidity from some source, often overseas, may help over stimulate the market, leading to over optimism and a dangerous concentration of wealth in real estate.

• Publisher: World Bank
• Subject: ABUSE / ACCOUNTING / AGGLOMERATION ECONOMIES / AGRICULTURAL DEVELOPMENT / ALM / BANKS / BARRIOS / BETTERMENT LEVIES / BORROWING / BUDGET CONSTRAINTS / CAPITAL EXPENDITURES / CAPITAL MARKETS / CENTER FOR DEVELOPMENT / CENTRAL GOVERNMENTS / CITY COUNCILS / CITY DEVELOPMENT / CITY DWELLERS / CITY SIZE / CLIMATE CHANGE / CULTURAL CHANGE / DEBT / DEMOGRAPHIC TRANSITION / DEVELOPING COUNTRIES / DEVELOPMENT STRATEGIES / DISEASES / EASTERN CARIBBEAN CENTRAL BANK / ECONOMIC DEVELOPMENT / ECONOMIC GROWTH / ECONOMIC INTEGRATION / ECONOMIC PRODUCTIVITY / ECONOMICS / EXTERNALITIES / FEDERAL RESERVE SYSTEM / FEMALE EDUCATION / FEWER CHILDREN / FINANCIAL MARKETS / FISCAL CAPACITY / FISCAL POLICY / FISCAL RESPONSIBILITY / GOVERNMENT INTERVENTION / GOVERNMENT POLICIES / GOVERNMENT SUPPORT / GREEN REVOLUTION / GROSS DOMESTIC PRODUCT / HOUSING / HOUSING DEMAND / HOUSING MARKETS / HOUSING STOCK / HOUSING SUBSIDIES / HUMAN CAPITAL / HUMAN LIFE / HUMAN SETTLEMENTS / ILLITERACY / ILLNESS / IMMIGRANTS / IMPORTANT POLICY / INCOME DISTRIBUTION / INCOME INEQUALITY / INDUSTRIAL DEVELOPMENT / INDUSTRIAL REVOLUTION / INDUSTRIALIZATION / INFANT / INFANT MORTALITY / INFANT MORTALITY RATE / INFANT MORTALITY RATES / INSURANCE / INTEREST RATES / INTERNAL MIGRATION / INTERNATIONAL TRADE / INVENTORY / LABOR FORCE / LABOR MARKET / LABOR MARKETS / LABOR SUPPLY / LAND MARKETS / LAND PRICES / LAND TAXES / LAND USE / LARGE CITIES / LARGE NUMBERS OF PEOPLE / LAWS / LEGAL FRAMEWORK / LEGAL STATUS / LEGISLATION / LICENSES / LIMITED RESOURCES / LOCAL AUTHORITIES / LOCAL COUNCILS / LOCAL GOVERNMENT / LOCAL GOVERNMENT OFFICIALS / LOCAL GOVERNMENTS / LOCAL PUBLIC FINANCE / LOW-INCOME COUNTRIES / MACROECONOMIC STABILITY / MASS IMMIGRATION / MEGACITIES / MODERNIZATION / MORTALITY / MORTGAGE LENDING / MUNICIPAL FINANCE / MUNICIPALITIES / NATIONAL BOUNDARIES / NATIONAL GOVERNMENTS / NATIONAL RESEARCH COUNCIL / NUMBER OF WORKERS / PER CAPITA INCOME / POLICE / POLICY DECISIONS / POLICY MAKERS / POLICY RESEARCH / POLICY RESPONSE / POLLUTION / POOR HOUSEHOLDS / POOR PEOPLE / POPULATION GROWTH RATES / POPULATION INCREMENTS / POPULATION MOVEMENTS / POPULATION SHIFT / POPULATION SHIFTS / POVERTY REDUCTION / PRACTITIONERS / PRIMATE CITIES / PROPERTY TAXES / PUBLIC / PUBLIC FINANCE / PUBLIC HOUSING / PUBLIC POLICY / PUBLIC RESOURCES / PUBLIC SERVICES / RATE OF GROWTH / RATES OF GROWTH / RATES OF URBANIZATION / REAL ESTATE MARKETS / REGIONAL INEQUALITIES / RENTAL VALUE OF PROPERTY / RICHER COUNTRIES / RURAL AREAS / RURAL DEVELOPMENT / RURAL POPULATION / RURAL POPULATIONS / RURAL POVERTY / RURAL­URBAN MIGRATION / SANITATION / SCHOOL ATTENDANCE / SECONDARY CITIES / SECURITY OF TENURE / SERVICE SECTORS / SERVICED LAND / SEWAGE / SEWAGE TREATMENT / SEWER SYSTEMS / SEWERAGE / SEWERAGE SYSTEMS / SLUMS / SOCIAL INFRASTRUCTURE / SPATIAL DISTRIBUTION / SPONSORS / STATE UNIVERSITY / SUBSIDIARY / SUSTAINABLE DEVELOPMENT / TAX RATES / TAXATION / TECHNICAL CAPACITY / TOLERANCE / TOWNS / TRANSACTION COSTS / TRANSITION ECONOMIES / TRANSPORT / TRANSPORTATION / UNEMPLOYMENT / UNFPA / UNITED NATIONS POPULATION FUND / URBAN / URBAN AGGLOMERATION / URBAN AGGLOMERATION ECONOMIES / URBAN AGGLOMERATIONS / URBAN AREAS / URBAN BIAS / URBAN DEVELOPMENT / URBAN ECONOMICS / URBAN ECONOMIES / URBAN EMPLOYMENT / URBAN ENVIRONMENT / URBAN INFRASTRUCTURE / URBAN LABOR / URBAN LAND / URBAN LAND USE / URBAN MIGRATION / URBAN POLICY / URBAN POOR / URBAN POPULATION / URBAN POPULATION GROWTH / URBAN POPULATION GROWTH RATES / URBAN POPULATIONS / URBAN POVERTY / URBAN PROJECTS / URBAN SECTOR / URBAN SECTORS / URBAN TRANSITION / URBAN WORKERS / URBANIZATION / URBANIZATION PROCESS / WAGES / WARS / WASTE WATER / WATER SUPPLY / WATER TREATMENT
• ISBN: 9780821375730, 0821375733