Study On Efficiency Of Housing Provident Fund Resources In Zhejiang

The housing provident fund is kind of mutual aid system that government set up to solve the problem of purchasing power shortage for residents after learning from foreign advanced experience.It is a compulsory saving system that can provide low interest fund for the house buyer.The allocation inefficiency of housing provident fund draws more and more attention and is becoming a hot topic.This paper hopes to come up with some suggestions after studying the housing provident fund of Zhejiang province.This paper first sums up the research achievements of predecessors on housing provident fund.Then it introduces the organization and the running status of the housing provident fund of Zhejiang province in detail.Then the article put forward the problems the housing provident fund is facing.This tells that improving the efficiency of the housing provident fund of Zhejiang province has a strong practical significance.Then this paper establishes a mathematical model to evaluate the resource allocation efficiency of housing provident fund of Zhejiang province.The paper evaluates the outside efficiency of 11 cities of Zhejiang province by factor analysis and clustering analysis.Then according to the results of factor analysis,the paper find out the key factors that impact the efficiency of resource allocation of housing provident fund.By using DEA model,the paper measure the relative efficiency of Zhejiang province and among 11 cities.And it finds the key factors influencing the efficiency with the help of Tobit model.Finally,the paper comes up with a plan of unified administration of the housing provident fund at the provincial level,so that we can build a more efficient housing provident fund with better management,better regulation,safer money,more balanced system,better information system.