Housing credit access model: the case for Lithuania

Abstract

The research described in this paper aimed at achieving two major goals. First, to identify and describe rational credit access development in advanced industrial economies as well as providing recommendations for Lithuania. The multiple criteria quantitative and conceptual analysis of rational credit access in developed countries and in Lithuania allowed for the identification of areas where the Lithuania situation is comparable, partly comparable or quite different from levels attained by advanced industrial economies. The data of this quantitative and conceptual analysis was used to identify rational credit access development trends in Western Europe and the USA as well as providing some recommendations for Lithuania. The determination and realization of efficient housing credit access in Lithuania would create better conditions for the functioning of the housing system. Second, the paper contains a description of a suggested method in choosing efficient housing investment instruments and lenders. The quantitative and conceptual databases that are being developed at present, give an exhaustive description of housing investment instruments and allow for their multiple criteria analysis. This helps to determine efficient investment instruments for the countries in question. The databases and multiple criteria analysis offered could also be used in searching for efficient lenders. The methods suggested in this paper can also be applied to solving similar problems in other countries.