Munich Personal RePEc Archive

Стратегия формирования ипотечного рынка в России

Polterovich, Victor and Starkov, Oleg (2007): Стратегия формирования ипотечного рынка в России. Published in: Economics and Mathematical Methods / Ekonomika i matematicheskie metody , Vol. 43, No. 4 (2007): pp. 3-22.


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We develop a strategy for building mass mortgage financing in Russia based on the transplantation of a modified institution of Contractual Savings for Housing (CSH) and on the control upon its evolution. Rationality of the proposed decision is justified by analysis of mortgage institutions development in advanced economies, comparisons of results achieved by East European countries and Russia, as well as modeling calculations. We show that state premium on savings in CSH is a more efficient way to subsidize the purchase of housing than subsidies of down payments in banks.

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