Urban Differences In The Impact Of Housing Provident Fund Policies On Housing Prices

Under the background of "common prosperity",China’s housing market has entered a new stage of development."Housing to live without speculation" and "Housing to live" have gradually become the main themes of the current housing market.With the development of the social economy,Chinese housing provident fund policy has also achieved considerable development and improvement.As an important means of housing financing and housing policy regulation in China,the positive role played by the housing provident fund in meeting the housing needs of workers has been widely recognized.The existence of housing provident fund has improved the housing consumption ability of some residents,but the growth of housing demand has also further promoted the rise of housing prices.In the environment of high housing prices and increasing housing costs of residents,it is of great significance to clarify the specific impact of housing provident fund policy on housing prices and to correctly play its housing security function.This thesis firstly sorts out and expounds domestic and foreign housing provident fund policies and related literature on housing prices,and proposes directions for further research;secondly,clarifying the theoretical basis of housing provident fund policies From the perspectives of supply and demand,it analyzes the transmission mechanism of housing prices,and uses the consumer utility function to build a partial equilibrium model to compare and study the equilibrium price of housing under the housing provident fund policy.Statistical data such as loan amount,housing provident fund coverage rate,etc.,introduce its development history,reality and correlation with housing prices,and discuss the differences in policies and housing prices among sample cities;then,select 40 sample cities in China from 2010 to 2010.For the annual panel data of 2019,the partial differential method is used to construct a spatial econometric model to empirically analyze the impact of housing provident fund policies on housing prices.This thesis compares and studies the impact of housing provident fund policies on housing prices in different types of cities;finally,according to the empirical results,this thesis aims to improve housing provident fund policies and promote housing from three aspects: improving housing provident fund coverage,improving control mechanisms,and formulating housing price control policies according to local conditions.The healthy development of the market puts forward corresponding suggestions.The main conclusions of this thesis are:(1)The implementation of housing provident fund policy will promote housing prices.Compared with the ordinary panel model,after considering the spatial factor,its influence is more significant.(2)The housing provident fund policy mainly promotes housing prices by issuing generalized housing provident fund loans.From the perspective of direct effect,every 1% change in the generalized housing provident fund loan will cause the housing price to change by 0.327% in the same direction.(3)The impact of housing provident fund policies on housing prices varies in different types of cities.The amount of housing provident fund loans has a greater impact on housing prices in second-and third-tier cities.The coverage rate of housing provident fund has a promoting effect on housing prices in first-tier cities,and the promotion effect is more significant in cities with more floating population,but it promotes second-and third-tier cities.less effect.