The Economics of Slums in the Developing World
The Economics of Slums in the Developing World The MIT Faculty has made this article openly available. Please share how this access benefits you. Your story matters. Citation Marx, Benjamin, Thomas Stoker, and Tavneet Suri. “The Economics of Slums in the Developing World.” Journal of Economic Perspectives 27, no. 4 (November 2013): 187–210. As Published http://dx.doi.org/10.1257/jep.27.4.187 Publisher American Economic Association Version Final published version Citable link http://hdl.handle.net/1721.1/88128 Terms of Use Article is made available in accordance with the publisher's policy and may be subject to US copyright law. Please refer to the publisher's site for terms of use. Journal of Economic Perspectives—Volume 27, Number 4—Fall 2013—Pages 187–210 The Economics of Slums in the Developing World† Benjamin Marx, Thomas Stoker, and Tavneet Suri rrbanban ppopulationsopulations hhaveave sskyrocketedkyrocketed ggloballylobally aandnd ttodayoday rrepresentepresent mmoreore tthanhan hhalfalf ooff tthehe wworld’sorld’s ppopulation.opulation. IInn somesome ppartsarts ooff tthehe ddevelopingeveloping wworld,orld, tthishis U ggrowthrowth hhasas mmore-than-proportionatelyore-than-proportionately iinvolvednvolved rruralural mmigrationigration ttoo iinformalnformal ssettlementsettlements iinn aandnd aaroundround ccities,ities, kknownnown mmoreore ccommonlyommonly aass ““slums”—slums”— ddenselyensely ppopulatedopulated uurbanrban aareasreas ccharacterizedharacterized bbyy ppoor-qualityoor-quality hhousing,ousing, a llackack ooff aadequatedequate llivingiving sspacepace aandnd ppublicublic sservices,ervices, aandnd aaccommodatingccommodating llargearge nnumbersumbers ooff iinformalnformal rresidentsesidents wwithith ggenerallyenerally iinsecurensecure ttenure.enure.1 WWorldwide,orldwide, aatt lleasteast 8860 million60 million ppeopleeople aarere nnowow llivingiving iinn sslums,lums, aandnd tthehe nnumberumber ooff sslumlum ddwellerswellers ggrewrew bbyy ssix millionix million eeachach yyearear ffromrom 22000000 ttoo 22010010 ((UN-HabitatUN-Habitat 22012a).012a).
[Show full text]