The Role of the Financial Sector in the Economic Development of Puerto Rico*

Maldonado, Rita M.

doi:10.1111/j.1540-6261.1970.tb00430.x

Cited by 2 publications

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“…The Development Bank, which was the main public source of finance for development, focused on infrastructure and housing and its commitment ‘influenced heavily the decision of private banks to offer their financial support’ in these fields (Caribbean Commission, 1954: 125). As a result, from 1950 to 1967 no less than 75% of all long‐term investments on the island went to housing (Maldonado, 1972: 126; Padin, 2003). Extensive investment in housing made it possible to experiment with a variety of schemes, ranging from medium‐rise projects to aided self‐help (Crane, 1944; Cordner, 1947).…”

Section: Neocolonialism In the Americas 1945–60smentioning

confidence: 99%

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Housing as a Tool of Economic Development since 1929

Arku

Harris

2005

Int J Urban Regional Res

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Housing policy in the developing world has usually been shaped by social and political considerations, yet housing can also be used to promote economic development. From the 1930s to the 1950s, it was increasingly deployed for this purpose by the agencies of colonial powers, including Britain and France; by the United States in Puerto Rico; and by the US Agency for International Development and the Inter‐American Development Bank in Latin America. By the mid‐1960s, the UN and affiliated agencies, notably the International Labour Office, had a keen and broad appreciation of its significance for economic policy. This understanding was temporarily swamped by rising social concerns and then sidelined when the World Bank began to support sites‐and‐services schemes in the 1970s. It reasserted itself in the 1980s in the form of ‘market enabling’ strategies which, however, too often became an excuse for inaction. This history underlines the importance of paying attention to the potential role of housing as a tool of economic development. Dans le monde en développement, la configuration de la politique du logement tient généralement à des aspects sociaux et politiques, alors que le logement peut aussi servir à promouvoir l’expansion économique. Des années 1930 à 1950, c’est dans ce but qu’elle a été mise en œuvre par les organes des puissances coloniales, dont la Grande‐Bretagne et la France, par les États‐Unis à Puerto Rico, ainsi que par l’agence de développement international des États‐Unis (USAID) et la Banque interaméricaine de développement en Amérique latine. Au milieu des années 1960, l’ONU et ses agences, notamment le Bureau International du Travail, ont émis un avis général tranché quant à son importance en politique économique. Cette idée a été temporairement submergée par l’apparition de problèmes sociaux, puis mise sur la touche lorsque la Banque mondiale a soutenu les projets Sites et services dans les années 1970. Elle s’est réimplantée dans les années 1980 sous la forme de stratégies de stimulation de marché qui, toutefois, ont trop souvent servi d’excuse au manque d’action. Cet historique souligne l’intérêt à accorder au rôle potentiel du logement en tant qu’outil de développement économique.

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Section: Neocolonialism In the Americas 1945–60smentioning

confidence: 99%

“…A number of scholars have treated these investments as ‘unproductive’, if socially necessary (e.g. Maldonado, 1972: 126; cf . Stanton, 1972).…”

Section: Neocolonialism In the Americas 1945–60smentioning

confidence: 99%