An Institutional Countermeasure to China's High Urban Housing Prices

摘要

The economic phenomenon of high urban housing prices in our country reflects asymmetry of rights and interests among government, real estate developers and buyers in essence, and behind this economic phenomenon imbedded financial crisis as well as political and social crisis. Regarding academic thought on the causes of high housing prices in the real estate market such as the theories of supply and demand, cost, the system, and power imbalance between interest groups, this thesis proceeds institutional analysis, from the perspective of institutional economics, discusses the institutional causes of the persistent existence of four factors theories in the angle of vacancy of civil rights in the supply process of institution and rules, and puts forward policy suggestions of increasing effective supplies of institution in the system level.