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The political economy of public housing upgrading programs

Author

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  • Diao, Mi
  • Sing, Tien Foo
  • Zhang, Xiaoyu
Abstract
This paper finds new evidence of using public housing upgrading programs for political rent-seeking motives. We merged datasets comprising public housing upgrading programs, resale public housing transactions, electoral division boundaries, and general election events in Singapore from 2010 to 2016. We find evidence of significant increases in public housing upgrading programs in the ruling party constituencies one quarter before general elections. Due to resource constraints, the probability of blocks being selected for future upgrading programs diminishes with the upgrading announcements in neighboring housing blocks. The negative externality is felt more by residents of affected housing blocks in the opposition constituencies, causing price declines of 1.9 % more than housing blocks in the ruling party constituencies. The preferential treatment in the upgrading program selection process for the ruling party constituencies over the opposition constituencies widens the housing price gap between the two constituencies.

Suggested Citation

  • Diao, Mi & Sing, Tien Foo & Zhang, Xiaoyu, 2024. "The political economy of public housing upgrading programs," Journal of Economic Behavior & Organization, Elsevier, vol. 224(C), pages 369-389.
    • Handle: RePEc:eee:jeborg:v:224:y:2024:i:c:p:369-389
    DOI: 10.1016/j.jebo.2024.01.007
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    More about this item

    Keywords

    Public housing market; Political economy; Political business cycles; Public housing upgrading program;
    All these keywords.

    JEL classification:

    • R2 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis
    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location
    • R5 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis
    • H4 - Public Economics - - Publicly Provided Goods
    • H5 - Public Economics - - National Government Expenditures and Related Policies

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