Research On The Local Government Behavior Of The Administrative Control Of The Real Estate Market

In recent years, along with the rapid development of the real estate industry in our country, the central government has increased strength of the real estate industry macro-control, but the control effect is not ideal, the development speed of the real estate industry continues unabated. In the analysis of the causes,the enforcement of the local government of the real estate market administrative control policy has been the focus of attention. Therefore, a study of the administrative control of the real estate market from the angle of the policy implementation will be made, namely do research on the local government action in the process of the administrative control of the real estate market.It regards 2003~2007 as study period, firstly make a study on the behavioral expression of the local government in the process of the administrative control of the real estate market. The dissimilated behavior of the local government in the process of the administrative control of the real estate market is reflected whether from the analysis of the policy effect of the administrative control of the real estate market at macro level, or from the analysis of the enforcement of the local government of the construction situation of the affordable housing at micro level. Secondly, on the basis of the analysis of the local government behavior, according to the principal-agent theory and the regulation capture theory of the new regulation economics, probe into the behavior logic of the local government. The relationship between the central and the local government is the principal-agent of multi-agents in the process of the administrative control of the real estate market, and the information asymmetry and conflicts of interest are serious between the central and local government. When the policy is published which means to restrain the rapid development of the real estate industry by the central government, under the condition of information asymmetry and the pursuit of the best economic and political interests, the local government will take the passive resistance behavior to avoid the loss of interests because of the implement of the policy. And, under the premise of common interests between the local government and the real estate enterprise, the local government can easily be captured by the real estate enterprise and make unauthorized modifications to the policy of the administrative control of the real estate market, and consequently, the effectiveness of the policy of the administrative control of the real estate market is affected. Finally, according to the behavior motives of local government, some advices are put forward to standardize the local government behavior. The research has important realistic significance on coordinate the relationship between the central and the local government and make the better implementation of the real estate market administrative control policies.