Global S&T Development Trend Analysis Platform of Resources and Environment
The Impact of Exogenous Demand Shock on the Housing Market: Evidence from the Home Purchase Restriction Policy in the People’s Republic of China | |
[unavailable] | |
2018-03-19 | |
出版年 | 2018 |
语种 | 英语 |
国家 | 国际 |
领域 | 气候变化 |
英文摘要 |
![]() A sharp slowdown in the property sector of the People's Republic of China (PRC) could have a domino effect on the world economy, especially in emerging markets. To deal with the rampant increase in housing prices, the Government of the PRC implemented the home purchase restriction (HPR) policy to curb speculation and prevent housing bubbles. This policy triggered an exogenous demand shock to the housing market. Employing a two-step difference-in-differences approach, we find significantly negative policy effects on property transaction volume but a small impact on housing prices. Cities that rely heavily on land sales for fiscal revenue experience a considerably higher increase in property investments after implementing the HPR policy. WORKING PAPER NO: 824 |
URL | 查看原文 |
来源平台 | Asian Development Bank |
文献类型 | 科技报告 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/234984 |
专题 | 气候变化 |
推荐引用方式 GB/T 7714 | [unavailable]. The Impact of Exogenous Demand Shock on the Housing Market: Evidence from the Home Purchase Restriction Policy in the People’s Republic of China,2018. |
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文件名称/大小 | 文献类型 | 版本类型 | 开放类型 | 使用许可 | ||
adbi-wp824.pdf(604KB) | 科技报告 | 开放获取 | CC BY-NC-SA | 浏览 下载 |
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