The Housing Finance System in Italy and Spain
Bulbarelli, Miriam ;  Lütz, Susanne ;  Arbeitsstelle Internationale Politische Ökonomie <Berlin>

HaupttitelThe Housing Finance System in Italy and Spain
TitelzusatzWhy did a housing bubble develop in Spain – and not in Italy
AutorBulbarelli, Miriam
HerausgeberLütz, Susanne
Seitenzahl25 Seiten
Schriftenreihe ; 26
DDC330 Wirtschaft
ZusammenfassungThe international financial crisis, which started in the United States at the end of 2007, hit Europe soon
afterwards. Its impact on the old continent has been e
normous. A number of country
-specific crises were
triggered, especially in the European periphery. This essay will focus on two countries, which were
affected particularly severely: Spain and Italy. In Spain, the global financial crisis was worsened by the
burst of the housing bubble, which had inflated the cost of housing during the early 2000s. In Italy, in
contrast, pre
-existing problems with the management of high public debt, long
-term stagnation in labour
productivity and low government credibility made its economy vulnerable to the financial crisis. Though
both countries had different experiences dealing with the global crisis, Italian and Spanish structural and
economic features are largely comparable and both countries experienced an economic boom s
ince the
2000s, especially in the housing sector. Yet, Italy did not witness a housing boom turning into a bubble
and its consequences, a steep
correction of housing prices –
the “bust” –
, whereas Spain is still recovering
from it. This paper attempts to analyze the reason for this discrepancy.
PDF-Datei von FUDOCS_document_000000024611
Falls Ihr Browser eine Datei nicht öffnen kann, die Datei zuerst herunterladen und dann öffnen.
Fachbereich/EinrichtungFB Politik- und Sozialwissenschaften
Rechte Nutzungsbedingungen
Erstellt am27.05.2016 - 10:04:03
Letzte Änderung27.05.2016 - 10:08:48
Statische URLhttp://edocs.fu-berlin.de/docs/receive/FUDOCS_document_000000024611
ISSN1869- 8468