Income Elasticity of Housing Demand in China: micro-data evidence from Shanghai

doi:10.1080/10670564.2013.809979

CORC > 上海财经大学 > 上海财经大学

	Income Elasticity of Housing Demand in China: micro-data evidence from Shanghai
	Chen, Jie; Jin, Minzhou
刊名	JOURNAL OF CONTEMPORARY CHINA
	2014-01-02
卷号	23 期号:85 页码:68-84
ISSN号	1067-0564
DOI	10.1080/10670564.2013.809979
英文摘要	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.
WOS研究方向	Area Studies
语种	英语
出版者	ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
WOS记录号	WOS:000327813900004
内容类型	期刊论文
源URL	[http://10.2.47.112/handle/2XS4QKH4/1819]
专题	上海财经大学
通讯作者	Chen, Jie
作者单位	Shanghai Univ Finance & Econ, Sch Publ Econ & Adm, Shanghai, Peoples R China
推荐引用方式 GB/T 7714	Chen, Jie,Jin, Minzhou. Income Elasticity of Housing Demand in China: micro-data evidence from Shanghai[J]. JOURNAL OF CONTEMPORARY CHINA,2014,23(85):68-84.
APA	Chen, Jie,&Jin, Minzhou.(2014).Income Elasticity of Housing Demand in China: micro-data evidence from Shanghai.JOURNAL OF CONTEMPORARY CHINA,23(85),68-84.
MLA	Chen, Jie,et al."Income Elasticity of Housing Demand in China: micro-data evidence from Shanghai".JOURNAL OF CONTEMPORARY CHINA 23.85(2014):68-84.