Factors that hinder the development of mortgage markets in transition economies and a proposed strategy to expedite their development.The transformation of the planned economies of central and eastern Europe to market economies has focused on economic stabilization and liberalization,...

The evidence from the past five years suggests that the transition economies that achieved low inflation, adopted radical banking reforms, and seriously reformed laws and institutions in the real estate sector should be among the first to develop a modern system of housing finance.The transition...

The rapid emergence of a global financial system in the late 1980s was signaled in the real estate sector of most OECD countries and some middle-income NIE countries by unusually strong booms followed by exceptionally sharp, protracted real estate bursts. Can we draw any lessons by probing the...

The authors describe the structure of Russian cities after 70 years of Soviet development. This is the longest socialist experience on record and its results are of paramount interest to urban economists. In the absence of price signals and of economic incentives to recycle land over time, the...