The Impact Of Housing Fund System On Urban Employees' Own Housing

Housing provident fund system is not only a product of the reform of housing finance system at the end of 20 th century in our country,but also an important guarantee system for ensuring the basic living needs of residents and improving the living conditions of urban workers.Housing provident fund has rich policy connotation,it is necessary to examine the effect of its policy from multiple levels,but most of the existing literature only use a single variable to research,which can not fully represent the housing provident fund system.In addition,there are inconsistent conclusions about the research on the impact of housing provident fund system on the purchase of housing by the academic circle.The effectiveness of the housing provident fund system can not be clarified.Therefore,based on the 2011 data from the China Family Financial Survey(CHFS),this paper divides the housing provident fund system into three dimensions:the breadth of participation,the depth of participation and the degree of active participation.The three dimensions respectively represent whether they participate in housing provident fund system,the contribution amount of housing provident fund each month last year,and whether or not the housing fund was withdrawn or used last year,and analyzed the impact of various dimensions on the first set of housing holdings,the multiple sets of housing holdings and the housing wealth of urban workers in China.According to different characteristics of dependent variable,Probit model and multivariate linear regression model were constructed.Based on the historical background of China's housing system reform,the data samples were subdivided and regrouped.The conclusions are as follows: first,participate in housing provident fund system for urban workers to solve the first suite demand has a significant positive role in promoting;second,the depth of housing provident fund participation has a certain positive effect on housing wealth,but the excessively highpayment will hurt the first set of housing purchase capability;third,the active participation of housing provident fund is the most important factor that affects employees' wealth and own housing;fourth,China's housing provident fund system has a certain inhibitory effect on holding more than a set of housing.This article also found that the housing provident fund system in all dimensions exists some problems,including: the breadth of participation,the housing provident fund system coverage needs to be improved;depth of participation,excessive contributions hurt the first set of purchase capacity of workers;participate in the activity,the system is not active enough,a lot of money idle.In order to improve the policy effect of housing provident fund system,this paper puts forward countermeasures and suggestions for system improvement from the following aspects:First,continue to improve system coverage.Expand the deposit scope of radiation policy;balance the institutional participation gap between units and regions of different nature;use powerful legal means to safeguard and improve system participation rate;increase policy advocacy and public opinion guidance.Second,set reasonable payment ratio.Small steps,stage reduction of housing provident fund contributions;suit one's measures to local conditions,the introduction of flexible rate system.Third,increase the activity of provident fund accounts through multiple channels.Continue to adhere to the principle of "guaranteeing basic insurance",and rationally guide housing expenditures for urban employees;reduce the threshold for the withdrawal of housing provident funds and loans;activate the "sleeping" funds and give full play to their policy role.