Housing and China's Economy.
Abstract: In this paper, I examine the relationship between residential
investment and GDP using two levels of data sets in order to answer the question " Has
China's economy relied too much on housing?" Although the national-level data set shows
clearly that housing plays an important role in leading China's economy out of the most
recent financial crisis, I do not see the fact that GDP react... read mores substantially to the
residential investment shock in a panel VAR model after controlling the individual
variation and cross-city common shock. This result is consistent with previous research in
the U.S., which shows that heterogeneity of the relationship between the housing cycle and
the business cycle exists at different levels.
Thesis (M.S.)--Tufts University, 2013.
Submitted to the Dept. of Economics.
Advisor: Jeffrey Zabel.
Committee: Jeffrey Zabel, and Marcelo Bianconi.
Keyword: Economics.read less