Government Partisanship and Real Estates Policy (2017.03)

• Author : Hyeok Yong Kwon
• Journal : Korean Party Studies Review
• Publisher : The Korean Association of Party Studies
• Volume : 16(1)
• Publication Date : March, 2017
• Abstract : This paper examines the effects of the government partisanship on real estates-related financial and regulatory policy choices and outcomes. We argue that the right-wing government pursues the expansion of real estates-related loans and deregulatory policies with the goal of boosting up the real estates price. Further, we posit that the rise of asset prices is associated with the decrease of the demand for redistributive and social welfare policies. Our statistical analysis of the panel data for the 16 OECD countries in the period 1980-2011 finds supporting evidence. Right-wing governments tended to be associated with the increases in household debts, housing prices, and the choice of deregulatory policies.

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