Title :
Empirical Research on Housing Price Ripple Effect between China´s Cities
Author :
Zhang, Hongjing ; Liu, LanHai
Author_Institution :
Sch. of Econ. & Manage., Northeast Dianli Univ., Jilin, China
Abstract :
Based on econometrics principles of the cointegration test and the error correction model, this research develops an innovative approach to quantitatively examine the ripple effect of house prices between Chinese big cities. Eight main capital citiespsila house price indices (1998-2007) are selected and calculated using unit root test, Engle-Granger test and error correction model. The empirical results show that there is ripple effect of house price in nationwide eight cities. Simultaneously, the corresponding ripple effect pattern graph of nationwide eight cities is generated. It significantly shows that Shenzhen is original region of nationwide house price changing.
Keywords :
econometrics; error correction; pricing; property market; China city; Engle-Granger test; Shenzhen; cointegration test; econometrics principle; error correction model; house price index; housing price ripple effect; ripple effect pattern graph; unit root test; Cities and towns; Conference management; EMP radiation effects; Econometrics; Engineering management; Error correction; Innovation management; Resource management; Statistics; Testing; cointegration; original region of house price changing; regional house price; ripple effect;
Conference_Titel :
Services Science, Management and Engineering, 2009. SSME '09. IITA International Conference on
Conference_Location :
Zhangjiajie
Print_ISBN :
978-0-7695-3729-0
DOI :
10.1109/SSME.2009.21
