By Zan Yang, Jie Chen (auth.)
This booklet offers a complete research of housing affordability lower than the commercial reforms and social changes in city China. It additionally deals an total overview of the present executive measures at the housing marketplace and cheap housing guidelines in China. by means of introducing a dynamic affordability procedure and residual source of revenue technique, the ebook permits us to trap the scale of the affordability hole extra competently, to raised establish coverage objectives, and to evaluate the effectiveness of present public coverage. the original database on city family surveys and local info on cheap housing initiatives serve to reinforce the research. The ebook bargains theoretical and empirical insights for in-depth affordability reports and is helping readers to appreciate the social affects of industry reforms and the position of presidency at the chinese language housing market.
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Finance and Economics Press, Beijing (in Chinese) Ding C (2003) Land policy reform in China: assessment and prospects. Land Use Policy 20:109–120 Fan S, Yu B, Saurkar A (2008) Public spending in developing countries: trends, composition and changes. In Fan S (ed) Public expenditure, growth and poverty in developing countries: issues, methods and findings. John Hopkins Publications, Baltimore Gustafsson B, Li S, Sicular T (eds) (2008) Inequality and Public Policy in China. Cambridge University Press, Cambridge Hegedus J (2006) Constraints on the Emerging Social Rental Housing Sector-case of Hungary.
93 % respectively from 2002 to 2010 (All data are extracted from the National Bureau of Statistics of China) (Fig. 6). 26 2 Housing Reform and the Housing Market in Urban China Fig. 6 Sold price of new commodity residential housing in urban China, 1991–2011. Source China statistical yearbook (2012) Increasing housing prices attracted the attention of central officials. Some have feared that a potential slump in the housing market could affect the healthy growth of the economy and put the financial market at risk.
Dai Genyou (2002), the director of the Chinese Central Bank’s monetary policy department in 1994, noted that M1 is mainly related to short-term output growth while M2 is more related to long-term inflation and economic growth. 13 plots the growth rate of M2 in China from 2004 to 2012. The country’s monetary policy remained stable from 2004 to 2008. The annual, newly increased bank lending was about RMB2 trillion, on average, during this period. In 2008, in response to the global financial crisis and subsequent shocks to the domestic economy, the Chinese authorities announced an enormous stimulus package and introduced credit relaxation and several interest rate cuts.