2009Unpublished venueRequires access

Market Failure, Government Failure and Guarantee of Housing

Zhang Ten

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Abstract

Housing market is a special market,in which there are three kinds of market failure and which needs government's intervention.But sometimes government failure occurs,which shows that we can not make up the shortcomings of market by only depending on government.Government's function in housing market is to enhance market efficiency,to promote social justice and to supply housing guarantee.We should define the housing guarantee by taking market failure as starting point and government failure as warning line.

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What this paper is about

Housing market is a special market,in which there are three kinds of market failure and which needs government's intervention.But sometimes government failure occurs,which shows that we can not make up the shortcomings of market by only depending on government.Government's function in housing market is to enhance market efficiency,to promote social justice and to supply housing guarantee.We should define the housing guarantee by taking market failure as starting point and government failure as warning line.

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Available abstract

Housing market is a special market,in which there are three kinds of market failure and which needs government's intervention.But sometimes government failure occurs,which shows that we can not make up the shortcomings of market by only depending on government.Government's function in housing market is to enhance market efficiency,to promote social justice and to supply housing guarantee.We should define the housing guarantee by taking market failure as starting point and government failure as warning line.

Key concepts: Market failure, Government failure, Economic interventionism, Government (linguistics), Business, Intervention (counseling), Function (biology), Factor market

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