earticle

영어

This paper evaluates the degree of market-friendliness of housing policy by the current government and the relationship between the market-friendliness of policy and the likelihood its success. Market-friendliness is defined based on the five criteria; broadening the choices by consumers, facilitating free trade, promoting fair competition, ensuring the working of price mechanism, and protecting property rights. Two sets of surveys were taken for a group of experts and the research staffs at the Sogang Research Institute for Market Economy. The results of the surveys show that the overall degree of market friendliness of housing policy is very low although some specific policy measures are more market friendly than others. A strong positive correlation was found between a measure of market-friendliness of individual policy measure and its likelihood of success. These finding suggest that housing policy should be redirected towards facilitating markets to function efficiently.