Spatial econometric analysis of Chinese urbanization and changes of real estate prices

Abstract

Abstract: Based on inter-provincial panel data of China, this paper builds a suitable dynamic spatial panel model to analyze the effect of urbanization on changes of real estate prices. The effect of urbanization measured by nonfarm payrolls on changes of real estate prices is significant negative. Urbanization of neighboring provinces can drive the real estate prices to rise, owing to the segmentation of the labor market, its spatial spillover effect is not significant. The effect and spatial spillover effect of foreign direct investment, land supply, monetary policy, infrastructure conditions, income of urban residents, and trade openness on changes of real estate prices are different. Finally, based on the empirical results, related policy implications are recommended in the paper.

Key words: urbanization, real estate prices, spatial measurement, UMLE

CLC Number:

F224.9

Jiang Song, Wang Zhao. Spatial econometric analysis of Chinese urbanization and changes of real estate prices[J]. Science Research Management, 2014, 35(11): 163-170.

References

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