The political dynamics of regulatory change: Speculation and regulation in the real estate sector

Abstract

China's real estate sector has experienced dramatic changes since the late 1980s. This article explores the political economy of China's recent ‘real estate fever’ and examines the government's efforts to deal with rampant speculation and foster the growth of a real estate industry. It suggests that the political dynamics of regulatory changes in the real estate sector illustrate the problems of Chinese policy making in the reform era.