Research On The Fairness Of Housing Accumulation Fund System On The Perspective Of Property Right

Housing accumulation fund system means a redefinition and rearrangement ofproperty rights. The benefit reallocation effects of this system lead to a series of fairnessproblem. Basis on the concept of relative equal, in this paper, we constructed standards offairness of housing accumulation fund system, and then we can judge the fairness of thissystem by the standards. We analyzed both the establishment and the operation fairnesseffect of the system. We use property rights theory analyzes the root causes of theseunfairness.This conclusions are as follows: First of all, there are two types of unfairness ofhousing provident fund system, one is created by establishment of the system, another iscreated by operation; secondly, crowding out effects and tax avoidance effects is the mainreason of the first type of unfairness, there are some factors which maybe effect the degreeof this effects, such as the pay scale factors, income tax rate and the labor market supplyand demand elasticity; thirdly, with regard to the unfairness of operation, we should paymuch attention to the efficiency of housing accumulation fund system. Different fromother conclusions of reaches, we believe that the current savings and loan policy ofhousing accumulation fund system promoted fair but not lead to unfairness from theperspective of relatively egalitarian; lastly, the asymmetric information between the ownerand operators and incomplete contract during the operation of housing provident fundsystem is the root cause of unfairness.So, we propose some advice to improve the housing accumulation fund systemfairness problem as follows: firstly, the government should improve the policy design ofthe housing accumulation fund system, including setting the ratio which accelerate withthe reduction of the income and unified tax rate; secondly, the government should improvethe corporate governance of state-owned enterprises by residual claim to strengthenincentives to reduce conflicting interests between owners and managers of state-ownedenterprises or units to reduce inequities; lastly, the policy should strengthen the incentiverelated entities during operation of the housing accumulation fund system and reduce therestriction of using and transferring the housing provident fund and repeal theunreasonable rule of income distribution of housing fund and detail housing fund propertyrights.