2010年房地产外文翻译--韩国政府住房政策和住房市场不稳定（节选）

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1、2550 英文单词， 15000 英文字符 ，中文 4250 字 文献出处： Yu H J, Lee S. Government housing policies and housing market instability in KoreaJ. Habitat International, 2010, 34(2):145-153. Government housing policies and housing market instability in Korea Hyeon Ji Yu, Sugie Lee Abstract This study examines the impact o

2、f housing polic ies and macroeconomic variables on housing price instability during the Roh, Mu Hyun Administration (20032008) in Korea. Although researchers have documented the role of macroeconomic variables on changes in housing prices, few have addressed the relationship between governmental hou

3、sing stabilization policies and housing price uctuations. Using a statistical method, this research focuses on whether policy initiatives taken by the Roh Administration to stabilize housing prices resulted in the expected outcome of a stabilized housing market. Controlling for macroeconomic variabl

4、es, our empirical analysis reveals that the housing price stability polic ies of the Roh Administration had no observable impact on the stabilization of the Korean housing market. Conventional macroeconomic variablesd the money supply, corporate bond returns, and the number of permits for building c

5、onstruction and actual orders for building construction have a statistically signicant association with housing price instability in Korea. This research discusses policy implications resulting from the ineffectiveness of housing stability initiatives in the Roh Administration. Keywords: Housing mar

6、ket instability, Housing price, Housing policy, Roh administration Introduction Since the housing market is an imperfect, competitive market, governments have always justied intervention in the housing market. In particular, governmental intervention that aims to stabilize prices in the housing market has been a popular approach taken by Korean governments over the past several decades. Rather than depending on the housing market that may correct itself, the Korean government, in an effo