In the wake of the crisis in U.S. housing markets, policymakers are considering how to reform mortgage finance. Many other developed nations intervene in housing finance to a lesser degree than the United States does—can their experiences provide some insight? The cover story in the latest issue of Region Focus magazine puts U.S. housing finance in an international context.
Also in this issue:
• When South Carolina Met BMW. In the early 1990s BMW investigated 250 locations worldwide for its first plant outside of Germany, and chose upstate South Carolina. How has the deal worked out?
• Why Aren’t All Countries Rich? An estimated 1.4 billion people live without access to electricity, clean water, basic medicines, elementary education, or adequate food. How can better economic policies and legal systems lift their countries out of poverty?
• Harnessing the Iron Horse. Maryland and South Carolina companies pioneered large-scale railroading in the United States, setting the stage for cross-country trade and passenger routes that bound the nation together.
• Interview with Bruce Yandle of Clemson University on environmental economics.
Region Focus covers the economy and business activities of the Fed’s Fifth District, which includes the District of Columbia, Maryland, North Carolina, South Carolina, Virginia, and most of West Virginia.
For free copies of Region Focus, contact the Bank’s Research Publications division at (800) 322-0565. The articles are available online at http://www.richmondfed.org/publications.
The Richmond Fed serves the Fifth Federal Reserve District, which includes the District of Columbia, Maryland, North Carolina, South Carolina, Virginia and most of West Virginia. As part of the nation's central bank, we're one of 12 regional Reserve Banks that work together with the Federal Reserve's Board of Governors to strengthen the economy and our communities. We manage the nation's money supply to keep inflation low and help the economy grow. We also supervise and regulate financial institutions to help safeguard our nation's financial system and protect the integrity and efficiency of our payments system.