Ezpense Elasticity of Real Estate and Local Economy Growth Effect in China

摘要：

This paper analyses China’s expense of real estate market with the panel data from 1990 to 2003 basing a partial equilibrium model, and estimates the provinces’ expense elasticity of real estate using GLS-Generalized Least Squares. The results indicates that most of provinces’ current period expense elasticity and long-period expense elasticity of real estate are positive, and most of provinces’ expense elasticity of real estate are greater than total consumption elasticity. According to the panel data test of local economy growth and the expense of real estate, it shows that economy growth promotes the expense of real estate, and the latter advances economy growth in some specific periods. So the adjustments of real estate markets should focus on the real estate investments, and it’s necessary to decrease the investments on villas and luxury apartments and to increase the investments on economic housing. The governments should employ some measures to restrict the speculations in the housing markets.

关键词： ezpense elasticity ezpense of real estate economy growth effect

作者: ZHENG Dequan WANG Enyan

作者单位: Department of Public Administration, School ofManagement, Harbin Institute of Technology, Harbin, Ch School of Management, Harbin Institute of Technology, Weihai, China 264209

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: 1052-1055

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）