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Privatisation of Public Housing: An Analysis of Policy Alternatives

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  • Lok-sang, Ho

Abstract

This paper discusses alternative privatization schemes for public housing in light of economic efficiency, “policy efficiency,” and equity. The analysis shows that removing restrictions to resale by the purchasers is the key to improving economic efficiency and that restricting resales to target group members is the key to achieving policy efficiency. Further, removing restrictions to bidding (viz. open competition) among eligible households is essential for both economic efficiency and equity. The paper discusses the trade‐off between various policy objectives inherent in some of the schemes. It recommends the “eligibility model” of privatization, under which households can resell their public housing units any time offer purchase to any household within the group targeted by the government for assistance as determined by the gzovernment.
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  • Lok-sang, Ho, 1994. "Privatisation of Public Housing: An Analysis of Policy Alternatives," Departmental Working Papers _040, Chinese University of Hong Kong, Department of Economics.
    • Handle: RePEc:chk:cuhked:_040
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    as
    1. Olsen, Edgar O. & Barton, David M., 1983. "The benefits and costs of public housing in New York City," Journal of Public Economics, Elsevier, vol. 20(3), pages 299-332, April.
    2. Lok Sang Ho, 1988. "Towards an Optimal Public Housing Policy," Urban Studies, Urban Studies Journal Limited, vol. 25(3), pages 204-211, June.
    3. Wong, Yue-Chim & Liu, Pak-Wai, 1988. "The distribution of benefits among public housing tenants in Hong Kong and related policy issues," Journal of Urban Economics, Elsevier, vol. 23(1), pages 1-20, January.
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    Cited by:

    1. Lok Sang Ho & Gary Wai‐Chung Wong, 2006. "Privatization Of Public Housing: Did It Cause The 1998 Recession In Hong Kong?," Contemporary Economic Policy, Western Economic Association International, vol. 24(2), pages 262-273, April.
    2. Hon-Kwong Lui, 2007. "The Redistributive Effect of Public Housing in Hong Kong," Urban Studies, Urban Studies Journal Limited, vol. 44(10), pages 1937-1952, September.

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