Real Estate Investments and GDP: Long-Term Equilibrium and Short-Term Fluctuation
Investments in real estate play an important role in the development of real estate industry, so there is not only theoretical value, but also practical significance to investigate rules of the development of the real estate industry. An empirical study is done between real estate investment and GDP by using cointegration test, Granger causality test and error correction model. The results show that 1) real estate investment and GDP has the long-term balanced relations, 2) real estate investment and GDP cause and affect each other and 3) in the short period, the fluctuation of the real estate investment in short term Granger cause the fluctuation of GDP in short term, while 34.5% of GDP deviation from the equilibrium position is adjusted in the short-term.
Real estate investments Cointegration test Granger causality test Error correction model
Li Quanxi Xu Feng
School of management, Jilin University, P.R.China, 130022
国际会议
The International Conference on Management of Technology(2008太原技术管理国际研讨会)
太原
英文
1515-1520
2008-08-01（万方平台首次上网日期，不代表论文的发表时间）