ON THE IMPACT OF REAL ESTATE PRICES ON THE DEVELOPMENT OF REGIONAL ECONOMY IN CHINA–AN ESTIMATION BASED ON PANEL QUANTILE REGRESSION MODEL

The paper analyzes the mechanism of real estate prices on economic development with panel quantile regression model. It is found that real estate prices can significantly promote economic development. Generally speaking, the contribution of real estate prices to economic development in regions with...

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Bibliographic Details
Published inMalaysian e commerce journal Vol. 5; no. 2; pp. 51 - 54
Main Authors Zhang, Baili, Ma, Yadong, Yin, Mengyue, Li, Zhengxun
Format Journal Article
LanguageEnglish
Published Zibeline International 16.11.2021
Subjects
economic development
panel quantile regression mode
real estate prices
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Summary:The paper analyzes the mechanism of real estate prices on economic development with panel quantile regression model. It is found that real estate prices can significantly promote economic development. Generally speaking, the contribution of real estate prices to economic development in regions with higher level of economic development is higher than that in regions with lower level. With the continuous improvement of the quantile, the impact of real estate prices has generally increased gradually, and the impact of urbanization level basically shows the law of diminishing marginal effect.
ISSN:2616-5155
2616-5155
DOI:10.26480/mecj.02.2021.51.54