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Housing markets and government intervention in East Asian countries

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  • Seong-Kyu Ha

Abstract

Housing has a number of distinctive characteristics, which means that the market does not work in the smooth functioning way that is claimed for other goods, and so produces neither an optimal level of output, nor an equitable distribution of that output. The rationale for government intervention in the housing market in many countries has generated a lengthy debate on the relationships between economic and political structures, and the established housing system. If so, how have governments played their role in the housing market? And more specifically, why does the state intervene? In this study, we focus on Confucian states, including China, Japan, South Korea, Hong Kong, and Taiwan. Government intervention in the housing market is mainly due to the minimal 'bottom up' practice of the housing policy tradition in most East Asian countries. We could see some convergence, as the East Asian countries move towards a property-owning model, by addressing the new forms of inequality generated by the emphasis on an individual homeownership-biased housing policy, and government intervention.

Suggested Citation

  • Seong-Kyu Ha, 2013. "Housing markets and government intervention in East Asian countries," International Journal of Urban Sciences, Taylor & Francis Journals, vol. 17(1), pages 32-45, March.
    • Handle: RePEc:taf:rjusxx:v:17:y:2013:i:1:p:32-45
    DOI: 10.1080/12265934.2013.777513
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    References listed on IDEAS

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    1. Yves Zenou, 2012. "Housing policies in China: Issues and options," Regional Science Policy & Practice, Wiley Blackwell, vol. 4(4), pages 393-417, November.
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    Cited by:

    1. Jose Antonio Filipe & Tolga Genc, 2019. "Modelling an Idle Building Case through SWOT Analysis and Fuzzy DEMATEL – A Study on Anti-Commons," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 167-185.
    2. Thanh Bao Nguyen & Erwin Van de Krabben & D. Ary A. Samsura, 2017. "A curious case of property privatization: two examples of the tragedy of the anticommons in Ho Chi Minh City-Vietnam," International Journal of Urban Sciences, Taylor & Francis Journals, vol. 21(1), pages 72-90, January.
    3. Nannan Yuan & Shigeyuki Hamori, 2014. "Are government interventions effective in regulating China fs house prices?," Discussion Papers 1427, Graduate School of Economics, Kobe University.
    4. Dae Jin Kim & In Kwon Park, 2017. "The local distribution of endowments matters: Modelling tax competition with heterogeneous local residents," Urban Studies, Urban Studies Journal Limited, vol. 54(14), pages 3239-3259, November.
    5. Yang, Hee Jin & Kim, Yoon-jung, 2022. "The role of territorial collective goods in Korea’s residential development," Land Use Policy, Elsevier, vol. 112(C).

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