Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/26922
Title: Region-specific estimates of the determinants of residential investment
Authors: Choy, LHT 
Ho, WKO
Mak, SWK
Keywords: China regions
Panel data model
Residential investment differentials
Issue Date: 2011
Publisher: American Society of Civil Engineers
Source: Journal of urban planning and development, 2011, v. 137, no. 1, p. 1-6 How to cite?
Journal: Journal of urban planning and development 
Abstract: This paper adopts a reduced-form equilibrium model to investigate the possible sources of residential investment differentials among 22 provinces, five autonomous regions, and four municipalities in the People's Republic of China. The model is estimated using panel data from 31 Chinese regions during the period between 2001 and 2006, yielding a total of 186 observations. Empirical results should hopefully shed light on the adjustment mechanism of the Chinese residential-property market. Specifically, this paper suggests that change in population, income, and business confidence are the major determinants that cause residential investment to vary among different regions. The relatively small coefficients of real interest rates and planning regulations suggest that they have significant but modest impacts on residential investment.
URI: http://hdl.handle.net/10397/26922
ISSN: 0733-9488
EISSN: 1943-5444
DOI: 10.1061/(ASCE)UP.1943-5444.0000030
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