Danish Mortgage Finance, Property Rights Protection and Economic Development

Research output: Book/ReportPh.D. thesisResearch

6193 Downloads (Pure)

Abstract

The Danish mortgage finance system is attracting much international attention due to its simple, robust and efficient securitization principle, the balance principle. Housing finance experts consider how the model can be introduced in other countries to overcome shortcomings in previous mortgage systems (e.g., in the US) or to alleviate the gigantic unmet needs for housing finance around the world. In support of such efforts the research challenge was the development of a methodology for screening of readiness for transplanting this financing system to other countries.
However, the development of screening methods for assessing the readiness for such transplantation depends on a deeper understanding of three large domains: A) Mortgage Finance, B) Cadastre and Land Registration; and C) Economic Development; and the interrelations between these three areas. In particular the thesis has focused on the requirements of infrastructure in respect to protecting ‘security of collateral’, and on international monitoring systems providing information on the status of what cadaster, real property registration and other functions of importance for securing collateral and for valuation of properties. In the absence of data on the status of land registration (and of reliable ratings of protection of property rights), it was found that macro-economic indicators could serve as indicators of readiness.
Findings included propositions on prerequisites for readiness of mortgage finance development and proposals concerning screening methodology.
The research has analyzed the 200 year history of the Danish Mortgage finance system, and its contribution to economic development and adaptability through different economic stages. Development theories related to credit and property rights were analyzed to study the dynamics between formal property rights regimes and real credit with implications for development strategies.
The PhD was co-sponsored by VP Securities A/S, www.vp.dk
Original languageEnglish
Place of PublicationAalborg
PublisherInstitut for Samfundsudvikling og Planlægning, Aalborg Universitet
Number of pages91
Publication statusPublished - 25 Feb 2011

Fingerprint

Economic development
Finance
Property rights
Mortgages
Readiness
Registration
Screening
Methodology
Credit
Housing finance
Economics
Transplantation
Financing
Development theory
Monitoring system
Rating
Macroeconomic indicators
Development finance
Securitization
Development strategy

Keywords

  • Danish Mortgage Finance
  • Security of Collateral
  • Economic Development
  • Property Rights
  • Monitoring systems
  • PhD thesis

Cite this

Haldrup, K. (2011). Danish Mortgage Finance, Property Rights Protection and Economic Development. Aalborg: Institut for Samfundsudvikling og Planlægning, Aalborg Universitet.
Haldrup, Karin. / Danish Mortgage Finance, Property Rights Protection and Economic Development. Aalborg : Institut for Samfundsudvikling og Planlægning, Aalborg Universitet, 2011. 91 p.
@phdthesis{3e70b8f5d80747beb58bd31696c00375,
title = "Danish Mortgage Finance, Property Rights Protection and Economic Development",
abstract = "The Danish mortgage finance system is attracting much international attention due to its simple, robust and efficient securitization principle, the balance principle. Housing finance experts consider how the model can be introduced in other countries to overcome shortcomings in previous mortgage systems (e.g., in the US) or to alleviate the gigantic unmet needs for housing finance around the world. In support of such efforts the research challenge was the development of a methodology for screening of readiness for transplanting this financing system to other countries. However, the development of screening methods for assessing the readiness for such transplantation depends on a deeper understanding of three large domains: A) Mortgage Finance, B) Cadastre and Land Registration; and C) Economic Development; and the interrelations between these three areas. In particular the thesis has focused on the requirements of infrastructure in respect to protecting ‘security of collateral’, and on international monitoring systems providing information on the status of what cadaster, real property registration and other functions of importance for securing collateral and for valuation of properties. In the absence of data on the status of land registration (and of reliable ratings of protection of property rights), it was found that macro-economic indicators could serve as indicators of readiness. Findings included propositions on prerequisites for readiness of mortgage finance development and proposals concerning screening methodology. The research has analyzed the 200 year history of the Danish Mortgage finance system, and its contribution to economic development and adaptability through different economic stages. Development theories related to credit and property rights were analyzed to study the dynamics between formal property rights regimes and real credit with implications for development strategies. The PhD was co-sponsored by VP Securities A/S, www.vp.dk",
keywords = "Danish Mortgage Finance , Security of Collateral, Economic Development, Property Rights, Monitoring systems, PhD thesis",
author = "Karin Haldrup",
year = "2011",
month = "2",
day = "25",
language = "English",
publisher = "Institut for Samfundsudvikling og Planl{\ae}gning, Aalborg Universitet",

}

Haldrup, K 2011, Danish Mortgage Finance, Property Rights Protection and Economic Development. Institut for Samfundsudvikling og Planlægning, Aalborg Universitet, Aalborg.

Danish Mortgage Finance, Property Rights Protection and Economic Development. / Haldrup, Karin.

Aalborg : Institut for Samfundsudvikling og Planlægning, Aalborg Universitet, 2011. 91 p.

Research output: Book/ReportPh.D. thesisResearch

TY - BOOK

T1 - Danish Mortgage Finance, Property Rights Protection and Economic Development

AU - Haldrup, Karin

PY - 2011/2/25

Y1 - 2011/2/25

N2 - The Danish mortgage finance system is attracting much international attention due to its simple, robust and efficient securitization principle, the balance principle. Housing finance experts consider how the model can be introduced in other countries to overcome shortcomings in previous mortgage systems (e.g., in the US) or to alleviate the gigantic unmet needs for housing finance around the world. In support of such efforts the research challenge was the development of a methodology for screening of readiness for transplanting this financing system to other countries. However, the development of screening methods for assessing the readiness for such transplantation depends on a deeper understanding of three large domains: A) Mortgage Finance, B) Cadastre and Land Registration; and C) Economic Development; and the interrelations between these three areas. In particular the thesis has focused on the requirements of infrastructure in respect to protecting ‘security of collateral’, and on international monitoring systems providing information on the status of what cadaster, real property registration and other functions of importance for securing collateral and for valuation of properties. In the absence of data on the status of land registration (and of reliable ratings of protection of property rights), it was found that macro-economic indicators could serve as indicators of readiness. Findings included propositions on prerequisites for readiness of mortgage finance development and proposals concerning screening methodology. The research has analyzed the 200 year history of the Danish Mortgage finance system, and its contribution to economic development and adaptability through different economic stages. Development theories related to credit and property rights were analyzed to study the dynamics between formal property rights regimes and real credit with implications for development strategies. The PhD was co-sponsored by VP Securities A/S, www.vp.dk

AB - The Danish mortgage finance system is attracting much international attention due to its simple, robust and efficient securitization principle, the balance principle. Housing finance experts consider how the model can be introduced in other countries to overcome shortcomings in previous mortgage systems (e.g., in the US) or to alleviate the gigantic unmet needs for housing finance around the world. In support of such efforts the research challenge was the development of a methodology for screening of readiness for transplanting this financing system to other countries. However, the development of screening methods for assessing the readiness for such transplantation depends on a deeper understanding of three large domains: A) Mortgage Finance, B) Cadastre and Land Registration; and C) Economic Development; and the interrelations between these three areas. In particular the thesis has focused on the requirements of infrastructure in respect to protecting ‘security of collateral’, and on international monitoring systems providing information on the status of what cadaster, real property registration and other functions of importance for securing collateral and for valuation of properties. In the absence of data on the status of land registration (and of reliable ratings of protection of property rights), it was found that macro-economic indicators could serve as indicators of readiness. Findings included propositions on prerequisites for readiness of mortgage finance development and proposals concerning screening methodology. The research has analyzed the 200 year history of the Danish Mortgage finance system, and its contribution to economic development and adaptability through different economic stages. Development theories related to credit and property rights were analyzed to study the dynamics between formal property rights regimes and real credit with implications for development strategies. The PhD was co-sponsored by VP Securities A/S, www.vp.dk

KW - Danish Mortgage Finance

KW - Security of Collateral

KW - Economic Development

KW - Property Rights

KW - Monitoring systems

KW - PhD thesis

M3 - Ph.D. thesis

BT - Danish Mortgage Finance, Property Rights Protection and Economic Development

PB - Institut for Samfundsudvikling og Planlægning, Aalborg Universitet

CY - Aalborg

ER -

Haldrup K. Danish Mortgage Finance, Property Rights Protection and Economic Development. Aalborg: Institut for Samfundsudvikling og Planlægning, Aalborg Universitet, 2011. 91 p.