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The Limits and Potentials of the Housing Market Enabling Paradigm: An Evaluation of China's Housing Policies from 1998 to 2011

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  • j. Albert Cao
  • Ramin Keivani

Abstract

This paper examines the housing policies in China in the last 14 years in the context of the international debate on the World Bank's housing market enabling strategy to improve low-income housing provision in developing countries. A review of China's urban housing outcomes reveals housing price inflation and shortage of affordable housing in the fast expanding housing market. The paper analyzes policies to increase both demand for and supply of housing and argues that these policies have contributed to worsening affordability. This situation has been exacerbated by problems in the institutional framework managing the housing sector. The paper concludes that market enabling alone is not sufficient to achieve a satisfactory housing outcome for low- and middle-income groups in Chinese cities. It advocates more effective and direct public intervention for enhancing social housing provision and tightening market regulation to address both market and government failures to improve housing conditions for lower income groups.

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  • j. Albert Cao & Ramin Keivani, 2014. "The Limits and Potentials of the Housing Market Enabling Paradigm: An Evaluation of China's Housing Policies from 1998 to 2011," Housing Studies, Taylor & Francis Journals, vol. 29(1), pages 44-68, January.
    • Handle: RePEc:taf:chosxx:v:29:y:2014:i:1:p:44-68
    DOI: 10.1080/02673037.2013.818619
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    References listed on IDEAS

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    1. Buckley, Robert M. & Kalarickal, Jerry, 2004. "Shelter strategies for the urban poor : idiosyncratic and successful, but hardly mysterious," Policy Research Working Paper Series 3427, The World Bank.
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    Cited by:

    1. Chen, W.D., 2016. "Policy failure or success? Detecting market failure in China's housing market," Economic Modelling, Elsevier, vol. 56(C), pages 109-121.
    2. Dan S. Rickman & Hongbo Wang, 2016. "Regional Housing Supply Elasticity in China 1999-2013: A Spatial Equilibrium Analysis," Economics Working Paper Series 1606, Oklahoma State University, Department of Economics and Legal Studies in Business.
    3. Diao, Mi & Fan, Yi & Sing, Tien Foo, 2021. "Rational pricing responses of developers to supply shocks: Evidence from Singapore," Journal of Economic Behavior & Organization, Elsevier, vol. 190(C), pages 802-815.
    4. Ming Li & Guojun Zhang & Yunliang Chen & Chunshan Zhou, 2019. "Evaluation of Residential Housing Prices on the Internet: Data Pitfalls," Complexity, Hindawi, vol. 2019, pages 1-15, February.
    5. Diego Gil & Pablo A. Celhay, 2022. "Property rights and market behavior in the low‐income housing sector: Evidence from Chile," Journal of Empirical Legal Studies, John Wiley & Sons, vol. 19(4), pages 1148-1178, December.
    6. Zhou, Zhengyi, 2018. "Housing market sentiment and intervention effectiveness: Evidence from China," Emerging Markets Review, Elsevier, vol. 35(C), pages 91-110.
    7. Ya Gao & Xiuting Li & Jichang Dong, 2019. "Does Housing Policy Sustainability Matter? Evidence from China," Sustainability, MDPI, vol. 11(17), pages 1-17, August.
    8. Yanke Dai & Yangfei Xu, 2022. "Cheating under Regulation: Evidence from “Yin-and-Yang” Contracts on Beijing’s Housing Market," Sustainability, MDPI, vol. 14(20), pages 1-29, October.
    9. Zhou, Zhengyi, 2016. "Overreaction to policy changes in the housing market: Evidence from Shanghai," Regional Science and Urban Economics, Elsevier, vol. 58(C), pages 26-41.
    10. Yi Wu & Yunong Li, 2018. "Impact of government intervention in the housing market: evidence from the housing purchase restriction policy in China," Applied Economics, Taylor & Francis Journals, vol. 50(6), pages 691-705, February.
    11. Urmi Sengupta & Brendan Murtagh & Camila D’Ottaviano & Suzana Pasternak, 2018. "Between enabling and provider approach: Key shifts in the national housing policy in India and Brazil," Environment and Planning C, , vol. 36(5), pages 856-876, August.
    12. Lisha He & Mia M Bennett & Ronghao Jiang, 2022. "The uneven geography of real estate investment by Mainland Chinese state-owned and private enterprises in the U.S.: Local market conditions, migration, and ethnic networks," Environment and Planning A, , vol. 54(4), pages 653-675, June.
    13. Hongbo Wang & Dan Rickman, 2020. "Housing Price and Population Growth across China: The Role of Housing Supply," International Regional Science Review, , vol. 43(3), pages 203-228, May.

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