| ID | 127772 |
| Title Proper | Exploratory analysis of impediments to China's credit control on the real estate industry |
| Other Title Information | an institutional perspective |
| Language | ENG |
| Author | Wei, Yigang ; Lam, Patrick Tsun-Ip ; Chiang, Yat-Hung ; Leung, Barbara Yuk-Ping, Seabrooke, William |
| Publication | 2014. |
| Summary / Abstract (Note) | To curb price speculations and overheated investment in the real estate market, the mainland Chinese government has determined to tighten bank lending to the market in recent years, by resorting to administrative tools through specific real estate control policy. With hindsight, the market response seems to have invalidated the policy initiatives. This research is aimed at investigating the impediments to achieving the laudable policy objectives of using administrative credit controls. A series of research interviews with property practitioners unraveled prevalent evasive practices and illicit tactics adopted by developers to thwart policy effects. This study leads to a better understanding of the institutional backdrop behind the less-than-expected results of the real estate macro-control measures. To better steer the real estate market, effective monetary control requires both the government and industry to make concerted efforts and consistent headway towards a complete, transparent and responsive ensemble of institutional arrangements. |
| `In' analytical Note | Journal of Contemporary China Vol.23, No.85; January 2014: p.44-67 |
| Journal Source | Journal of Contemporary China Vol.23, No.85; January 2014: p.44-67 |
| Key Words | China ; Chinese Economic ; Economic Management - China ; Economic Policy - China ; Credit Control Policy - China ; Banking Policy - China ; Monetary Policy - China ; Fiscal Policy - China ; Financial Policy - China ; Economic Growth - China ; Economic Control - China ; Real Estate Industry - China ; Policy Implementation - China ; Chinese Politics ; Curb Price Speculations |