Crisis? What crisis? A critical appraisal of World Bank housing policy in the wake of the global financial crisis

Abstract

This paper critically assesses international policy advocacy on how to resolve massive shelter needs in the developing world. It does so by focusing on the World Bank as a leader in development. It argues that the Bank’s housing policy remains thoroughly limited by its persistent commitment to neoliberal and financialised policy practices. These put housing finance at the centre of attempts to relieve shelter needs in the developing world despite the dramatic failures of such an approach as laid bare through the global financial crisis. The paper takes a historical approach to examine the trajectory of World Bank housing policy and is based on close scrutiny of a combination of quantitative and qualitative data. It concludes that an urgent need persists for a decoupling of finance from housing in international policy advocacy.