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Measuring Risk on Investment in Informal (Illegal) Housing: Theory and Evidence from Pune, India

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dc.contributor.authorKapoor, Mudit
dc.contributor.authorle Blanc, David
dc.date.accessioned2012-03-30T07:35:04Z
dc.date.available2012-03-30T07:35:04Z
dc.date.issued2008
dc.description.abstractIn this paper, we analyze a household's decision to invest in informal (illegal) housing in developing countries. Using a simple model of housing supply, we show that the difference in the rates of return on housing investment in the formal and informal sectors reflects the additional risk associated with the latter. Using household survey data from Pune (a large city in India), we estimate this risk premium in the city to be approximately 22%, or 150 basis points. We use our approach to estimate the informal risk premium for cities in other countries based on results from previous studies.en
dc.identifier.citationRegional Science and Urban Economics
dc.identifier.issn01660462
dc.identifier.urihttps://hdl.handle.net/10986/5895
dc.language.isoEN
dc.relation.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/igo
dc.rights.holderWorld Bank
dc.subjectPersonal Finance D140
dc.subjectIllegal Behavior and the Enforcement of Law K420
dc.subjectMicroeconomic Analyses of Economic Development O120
dc.subjectFormal and Informal Sectors
dc.subjectShadow Economy
dc.subjectInstitutional Arrangements O170
dc.subjectEconomic Development: Regional, Urban, and Rural Analyses
dc.subjectTransportation O180
dc.subjectUrban, Rural, and Regional Economics: Housing Demand R210
dc.titleMeasuring Risk on Investment in Informal (Illegal) Housing: Theory and Evidence from Pune, Indiaen
dc.title.alternativeRegional Science and Urban Economicsen
dc.typeJournal Articleen
dc.typeArticle de journalfr
dc.typeArtículo de revistaes
dspace.entity.typePublication
okr.doctypeJournal Article
okr.externalcontentExternal Content
okr.identifier.externaldocumentum987
okr.journal.nbpages311-329
okr.language.supporteden
okr.peerreviewAcademic Peer Review
okr.region.countryIndia
okr.relation.associatedurlhttp://dx.doi.org/10.1016/j.regsciurbeco.2008.03.005
okr.relation.associatedurlhttp://search.ebscohost.com/login.aspx?direct=true&db=eoh&AN=0997157&site=ehost-live
okr.relation.associatedurlhttp://www.elsevier.com/wps/find/journaldescription.cws_home/505570/description#description
okr.volume38
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