The heterogeneity of market supply effects of public housing provision: Empirical evidence from China
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- 作者：Jie Chen ; chen.jie@mail.shufe.edu.cn" class="auth_mail" title="E-mail the corresponding author ; chenjie_fudan@163.com" class="auth_mail" title="E-mail the corresponding author ; Huifu Nong sg.afu@live.com" class="auth_mail" title="E-mail the corresponding author
- 关键词：Crowd-out effect ; Public housing ; Threshold effect ; Housing supply ; China
- 刊名：Journal of Housing Economics
- 出版年：2016
- 出版时间：September 2016
- 年：2016
- 卷：33
- 期：Complete
- 页码：115-127
- 全文大小：753 K
文摘
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This paper finds the supply of public housing has crowding-out impacts on the supply of market housing in post-reform China but its degree is generally moderate.
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The crowding-out effect of public housing on market housing investment is strong when the share of ECH in total housing investment is sufficiently large, when the price of ECH is very low compared to market housing price, and when the provision of ECH is easily accessible.
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The crowding-out effect of public housing on market housing sale is significant in cases where the share of ECH in total housing sale exceeds a certain threshold level.
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The crowding-out effect changes over time but its estimation accuracy is gradually improving in the sample period.