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Local government regulation of land development and homebuilding has become more complicated and more demanding in recent years. Most of the new control techniques can be used either to manage growth in an orderly way or to limit and discourage growth. A review of experience in Northern California reveals many instances in which techniques such as utility moratoria, development fees, growth quotas, environmental impact reviews, and environmental lawsuits have been used in ways that increase the cost of new housing. Among the direct cost impacts of growth controls, the most important result from the rapidly increasing development charges levied by many communities, and from the stretch-out of development time caused by local review procedures. Many growth controls also generate a series of indirect impacts likely to lead to far greater increases in the sales prices of new homes. Four indirect impacts likely to have major effects on house prices are redesign of housing developments to make them more acceptable to local interest groups; restriction of the supply of land available for homebuilding; restriction of competition among homebuilders; and reduction in the ability of homebuilders to increase their output during cyclical increases in consumer demand.

Local government regulation of land development & homebuilding has become more complicated & demanding in recent years. Most new control techniques can serve either to manage growth or to discourage it. A review of experience in northern Calif shows how utility moratoria, development fees, growth quotas, environmental impact reviews, & environmental lawsuits have increased the cost of new housing. The greatest direct cost impacts of growth controls result from the rapidly increasing development charges levied by communities, & from increased development time caused by local review procedures. Many growth controls also generate indirect impacts likely to raise the sales prices of new homes, eg: redesign of housing developments to make them more acceptable to local interest groups; restriction of the supply of land available for homebuilding; restriction of competition among homebuilders; & reduction in homebuilders' ability to increase output during cyclical increases in consumer demand. Modified HA.

The past fifteen years have seen two important developments in the international economic system: the rapid industrialization of many less developed countries (LDCs) and their increasing indebtedness to private financial institutions. Massive bank loans have been used to fund industrial growth in many LDCs; international financial markets have replaced multinational corporations as the Third World's most important source of private foreign capital. In four major borrowing countries—Mexico, Brazil, Algeria, and South Korea—the process of indebted industrialization has its roots in the internationalization of finance, the increasing role of the state, and the use of funds raised on the international capital markets to finance industrial development. The results include rapid expansions of LDC industrial production and LDC exports of manufactured products, as well as the formation of an implicit partnership between private financial institutions and state-capitalist elites in the Third World.