Jump to ContentJump to Main Navigation
Housing the New Russia$
Users without a subscription are not able to see the full content.

Jane R. Zavisca

Print publication date: 2012

Print ISBN-13: 9780801450372

Published to Cornell Scholarship Online: August 2016

DOI: 10.7591/cornell/9780801450372.001.0001

Show Summary Details
Page of

PRINTED FROM Cornell University Press SCHOLARSHIP ONLINE (www.cornell.universitypressscholarship.com). (c) Copyright University of Cornell University Press, 2022. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in Cornell for personal use. date: 27 May 2022

Transplant Failure

Transplant Failure

The American Housing Model in Russia

(p.49) Chapter 2 Transplant Failure
Housing the New Russia

Jane R. Zavisca

Cornell University Press

This chapter examines the process of transplanting American housing institutions to Russia through three stages: privatization, establishment of mortgage finance, and the government's attempts to rescue the market from failure. After the collapse of Soviet rule, the new government tried to construct a housing market via the Housing Sector Reform Project (HSRP). The Yeltsin administration and its American advisers had three goals: to reduce the state's role in the housing sector, to enable markets to allocate housing according to resources and preferences, and to convince the public that housing markets are efficient and fair. This chapter first provides an overview of the Russian government's attempts to transplant the housing market during the period 1992–1998 before analyzing why the market failed in the next five years. It then discusses the emergence of the mortgage market in 2005–2009, with particular emphasis on mortgage subsidies and mortgage lending. It also considers the tension between state and market in Russian housing policy and concludes by assessing the consequences of the market failure for Russian housing.

Keywords:   housing, Russia, privatization, mortgage finance, Housing Sector Reform Project, housing markets, mortgage subsidies, mortgage lending, housing policy, market failure

Cornell Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us.