Empirical Study on Influences form the Appreciation of RMB on Urban Housing Prices in China: A Case Study of Beijing

摘要：

The currency appreciation will usually lead to the increase and inflation in domestic asset prices, or even a serious real estate bubble. Thus it is important to study relationship between appreciation of the RMB and real estate prices in order to determine the correlation between both of them. This paper takes Beijing as an example, to select variables such as Beijing Hedonic index, exchange rate of the RMB against the dollar, the Shanghai stock index, using co-integration analysis, error correction model to validate relationship between appreciation of RMB and house price. Finally, we put forward suggestions for Chinas exchange rate reform as well as countermeasures for macro adjusting of Chinas real estate industry in the context of the appreciation of the RMB.

关键词： housing prices the appreciation of RMB error correction model

作者: FANG Jianguo ZHANG Yang TANG Kai

作者单位: Lingnan College, Sun Yat-sen University, Guangzhou, China Lingnan College, Sun Yat-sen University,Guangzhou, China 510275 Lingnan College, Sun Yat-sen University, Guangzhou, China 510275

会议类型: 国际会议

会议名称: 2009 International Conference on Construction & Real Estate Management(2009建设与房地产管理国际会议)

会议地点: 北京

会议语种:英文

页码: 1208-1211

在线出版日期: 2009-11-05（万方平台首次上网日期，不代表论文的发表时间）