The empirical study of the price mechanism in the Chinese housing market

In China, the history of the establishment of the private housing market is pretty short. Actually in less then two decades, the market has grown from almost the scratch to playing an important role in the economy. A great achievement! But many problems also exist. They need to be properly addressed and solved. Price problem---simply put, housing price is too high--- is one of them, and this paper is focused on it. Three basic questions are posed, i.e. (1) how to judge the housing affordability? (2) why the housing price is so high? (3) how to solve the housing price problem. The paper pays particular attention to answering the second question. Except the numerous news reports and surveys show that most of the ordinary city dwellers complained about the high housing price, the mathematical means, the four ratios, are applied to judge the housing affordability in Shanghai and Shenzhen. The results are very clear that the price problem is severe. So why? Something is wrong with the price mechanism. This research shows that mainly these five factors contribute to the price problem: the housing reform, the housing development model, the unbalanced housing market, the housing project financing and the poor governmental management. Finally the paper puts forward five suggestions to solve the housing price problem in first-hand private Chinese housing market. They include: the establishment of real estate information system, the creation of specific price management department, the government price regulation, the property tax and the legalization of "cushion money".

Can commercialization of NTFPs alleviate poverty? A case study of Ricinodendron heudelotii (Baill.) Pierre ex Pax. kernel marketing in Cameroon

Ricinodendron heudelotii (Baill.) Pierre ex Pax. kernel (njansang) commercialization has been promoted by the World Agroforestry Centre (ICRAF) in project villages in Cameroon with the aim to alleviate poverty for small-scale farmers. We evaluated to what extent development interventions improved the financial situation of households by comparing project and control households. The financial importance of njansang to household livelihoods between 2005 and 2010 was investigated through semi-structured questionnaires with retrospective questions, focus group discussions, interviews and wealth-ranking exercises. The importance of njansang increased strongly in the entire study region and the increase was significantly larger in project households. Moreover, absolute numbers of income from njansang commercialization as well as relative importance of njansang in total cash income, increased significantly more in project households (p < 0.05). Although the lower wealth class households could increase their income through njansang trade, the upper wealth class households benefited more from the projects' interventions. Group sales as conducted in project villages did not lead to significantly higher prices and should be reconsidered. Hence, promotion of njansang had a positive effect on total cash income and can still be improved. The corporative actors for njansang commercialization are encouraged to adapt their strategies to ensure that also the lower wealth class households benefit from the conducted project interventions. In this respect, frequent project monitoring and impact analysis are important tools to accomplish this adaptation.

Rural households’ social capital and welfare: A case study of Msinga, KwaZulu-Natal, South Africa

In a household or nations production system, social capital has been recognized as an input having major implications for project design as well as policy development. Using a structured questionnaire, household level data was obtained from a representative sample of 300 rural households in Msinga, KwaZulu-Natal. This study employed the conventional household economic behaviour model under constrained utility maximisation to examine the effect of social capital on the welfare of household, testing the hypothesis that the possession of social capital improves household welfare. The result shows that social capital endowments have a statistically significant positive effect on household welfare, in addition to the some household’s demographic and socio-economic characteristics. The study concluded that, access to social capital among other factors, is very crucial for improved rural household welfare and poverty reduction. It is therefore important for government to have knowledge of existing social groups and networks as this will improve the effectiveness of the present strategies aimed at reducing poverty.

Water Resource Pollution and Impacts on the local livelihood: A case study of Beas River in Kullu District, India

The rivers are considered as the life line of any country since they make water available for our domestic, industrial and recreational functions. The quality of river water signifies the health status and hygienic aspects of a particular region, but the quality of these life lines is continuously deteriorating due to discharge of sewage, garbage and industrial effluents into them. Thrust on water demand has increased manifolds due to the increased population, therefore tangible efforts to make the water sources free from pollution is catching attention all across the globe. This paper attempts to highlight the trends in water quality change of River Beas, right from Manali to Larji in India. This is an important river in the state of Himachal Pradesh and caters to the need of water for Manali and Kullu townships, besides other surrounding rural areas. The Manali-Larji Beas river stretch is exposed to the flow of sewage, garbage and muck resulting from various project activities, thereby making it vulnerable to pollution. In addition, the influx of thousands of tourists to these towns also contributes to the pollution load by their recreational and other tourist related activities. Pollution of this river has ultimately affected the livelihood of local population in this region. Hence, water quality monitoring was carried out for the said stretch between January, 2010 and January, 2012 at 15 various locations on quarterly basis, right from the upstream of Manali town and up to downstream of Larji dam. Temperature, color, odor, D.O. , pH, BOD, TSS, TC and FC has been the parameters that were studied. This study gives the broad idea about the characteristics of water at locations in the said river stretch, and suggestions for improving water quality and livelihood of local population in this particular domain.