Income Elasticity of Housing Demand in China: micro-data evidence from Shanghai.
Since 1998, the Chinese housing market has played a fundamental role in driving macroeconomic stability and economic growth. This paper attempts to estimate the income elasticity of housing demand in Shanghai based on a household survey conducted by the National Bureau of Statistics of China in 2007...
| Publicado en: | Journal of Contemporary China Vol. 23; no. 85; pp. 68 - 85 |
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| Autores principales: | , |
| Formato: | Artículo |
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Taylor & Francis Ltd
Jan2014
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=92728506&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 92728506 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 10670564 LCC jtl: Journal of Contemporary China issn: 10670564 maglogo: Y pubinfo: dt: Jan2014 vid: 23 iid: 85 pid: 377 pub: Taylor & Francis Ltd artinfo: ui: 92728506 10.1080/10670564.2013.809979 ppf: 68 ppct: 17 formats: fmt: – @attributes: type: T db: hlh ui: 92728506 – @attributes: type: P db: hlh ui: 92728506 tig: atl: Income Elasticity of Housing Demand in China: micro-data evidence from Shanghai. aug: au: Chen, Jie Jin, Minzhou su: Shanghai (China) China Housing Economic demand Elasticity (Economics) Housing market Economic equilibrium Economic indicators Rural-urban differences Homeowners Income sug: subj: Housing Economic demand Elasticity (Economics) Housing market Economic equilibrium Economic indicators Rural-urban differences Homeowners Income Shanghai (China) China Other Community Housing Services ab: Since 1998, the Chinese housing market has played a fundamental role in driving macroeconomic stability and economic growth. This paper attempts to estimate the income elasticity of housing demand in Shanghai based on a household survey conducted by the National Bureau of Statistics of China in 2007. We utilize a two-stage model, which integrates analysis of both tenure choice and housing demand. Our findings indicate that both permanent and current income has significant influence on tenure choice in Shanghai, and that owner-occupiers' permanent income elasticity of housing demand in Shanghai is between 0.375 and 0.447. Our research also suggests that migrant homeowners have higher permanent income elasticity than Shanghai natives and that most Chinese households are liquidity constrained with regards to obtaining homeownership. We also find that permanent income elasticity increases with age. Finally, the existence of an urban–rural and regional difference is shown. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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