Back to Search Start Over

An Exploratory Analysis of Impediments to China's Credit Control on the Real Estate Industry: an institutional perspective.

Authors :
Wei, Yigang
Lam, Patrick Tsun-Ip
Chiang, Yat-Hung
Leung, Barbara Yuk-Ping
Seabrooke, William
Source :
Journal of Contemporary China; Jan2014, Vol. 23 Issue 85, p44-67, 24p, 2 Diagrams, 3 Charts, 3 Graphs
Publication Year :
2014

Abstract

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. [ABSTRACT FROM AUTHOR]

Details

Language :
English
ISSN :
10670564
Volume :
23
Issue :
85
Database :
Complementary Index
Journal :
Journal of Contemporary China
Publication Type :
Academic Journal
Accession number :
92728505
Full Text :
https://doi.org/10.1080/10670564.2013.809978