کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
7383751 | 1480526 | 2018 | 14 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Housing price spillovers in China: A high-dimensional generalized VAR approach
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
چکیده انگلیسی
Applying a proposed spillover index of high-dimensional generalized VAR framework, this paper, for the first time, explores housing price spillovers among 69 large- and medium-sized Chinese cities from July 2005 to June 2015. We find that city-level monthly housing prices in China are highly interactive with each other. Demonstrating the important role of government policy, data-determined systemically important cities in the price spillover network appear to be consistent with core cities supported by several regional development plans of the Chinese government and agglomerate in five relatively concentrated areas. A higher administrative status, population, city GDP and secondary education are significant determinants of the (net) positive spillover pattern. These findings shed new lights on understanding the housing market, regional development policies, and economic geography in China.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Regional Science and Urban Economics - Volume 68, January 2018, Pages 98-114
Journal: Regional Science and Urban Economics - Volume 68, January 2018, Pages 98-114
نویسندگان
Jian Yang, Ziliang Yu, Yongheng Deng,