The Research On The Impact Of Housing Provident Fund Policy On Housing Price In China

The housing problem of China is more and more serious,one of the most important performance is the substantial increase of the real estate price,leading to the residents who want to buy houses are gradually difficult.The housing problem becomes an urgent problem to be solved.Housing provident fund system as an important housing finance channel and regulating means of the real estate market.The relevant departments pay much attention about the the housing provident fund and make more efforts to strengthen the control to the real estate market.Therefore,it is of great significance to clarify the effect of housing provident fund policy on housing price and promote the housing provident fund to play a productive role as a policy tool.First of all,it clarifies the definition,nature and operation mechanism of housing provident fund,on the other hand,it analyzes the influential factors of housing price.Finally,by combing the relevant theories of housing provident fund and housing price,it analyzes the effect mechanism of the housing provident fund policy on housing price from the perspective of supply and demand.Secondly,it summarizes the development and present situation of the housing provident fund system,and points out the existing problems of housing provident fund system.On the basis of the previous dissertation,it elaborates the real impact of housing provident fund policy on housing price from two aspects including the conducting function and regulating function.Thirdly,this part analyzes the impact of housing provident fund policy on housing price by using vector autoregressive model,impulse response analysis and variance analysis to make further research of the dynamic effects of housing provident fund interest rates,housing provident fund loan,commercial bank loan interest rates and average GDP on housing prices,in order to calculate the impact of significance of the housing provident fund policy on housing price.Finally,based on the the research and analysis of this dissertation,this chapter puts forward the proposal advice to improve the housing provident fund system andstrengthen the effect on housing price,from three aspects including the optimization of housing provident fund deposit mechanism,the using mechanism and the transfer mechanism to housing price.