Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/12459
Title: Region-specific estimates of the determinants of real estate investment in China
Authors: Mak, S
Choy, L 
Ho, W
Issue Date: 2012
Publisher: SAGE Publications
Source: Urban studies, 2012, v. 49, no. 4, p. 741-755 How to cite?
Journal: Urban studies 
Abstract: This paper utilises a reduced-form equilibrium model to investigate the possible sources of real estate investment differentials among 22 provinces, five autonomous regions and four municipalities of the People's Republic of China. The model is estimated using panel data from 2001 to 2006, yielding a total of 186 observations. Specifically, empirical results suggest that demographic, economic and planning factors are the major determinants to cause real estate investment to vary among Chinese regions. The relatively small coefficient estimate of real interest rates indicates that it has a significant but modest impact. Based on the coefficient estimates, this paper finally suggests that the Chinese government should focus and work on several policy parameters in order to achieve a more balanced state of real estate investment across Chinese regions.
URI: http://hdl.handle.net/10397/12459
ISSN: 0042-0980
EISSN: 1360-063X
DOI: 10.1177/0042098011407093
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