주택산업의 수직분화가 주택시장에 미치는 효과분석

• 영문명: The Effects of Vertical Disintegration of Housing Industry on Housing Markets
• 발행기관: 한국지역개발학회
• 저자명: 전경구(Chun, Kyung-Ku)
• 간행물 정보: 『한국지역개발학회지』제19권 제2호, 157~182쪽, 전체 26쪽
• 주제분류: 사회과학 > 지역개발
• 파일형태: PDF
• 발행일자: 2007.06.30

영문 초록

The purposes of this article are to ana1yze the motives and effects of vertica1 disintegration of the housing construction industry in Ðaegu metropoli떠n city. In particular this article examines the effects of vertica1 disintegration on the apartment selling price of the housing construction company. It is argued that the vertica1 disintegration of the housing industry has been primarily triggered by the development of upstream land market and caused by nsmg intema1 transaction costs of land in the housing construction firms. Also, the study demonstrates that the vertica1 disintegration increases the initia1 apartment selling price of the housing construction firms in terms of theoretica1 and empirica1 aspects. This study indicates that the main factor of the high apartment selling price is the double margina1ization of the imperfect competitive housing market. On the other hand the excessive demand for land in the upstream market is argued to be a secondary factor, In the context of welfare issue the study indicates that the vertical disintegration of the housing market may decrease welfare of consumers as well as producers. Thus, it is argued that the vertica1 integration policy may be recommended by reducing intema1 transaction costs in the housing industry. However, the present disintegrated housing production market may be a supplementary system in which some unfavorable problems should be remedied.