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    Convergence of Regional Housing Prices in China

    Source: Journal of Urban Planning and Development:;2018:;Volume ( 144 ):;issue: 002
    Author:
    Liu Tie-Ying;Su Chi-Wei;Chang Hsu-Ling;Chu Chien-Chi
    DOI: 10.1061/(ASCE)UP.1943-5444.0000451
    Publisher: American Society of Civil Engineers
    Abstract: This paper uses the sequential panel selection method (SPSM) to examine the structure convergence of regional housing prices in China. The stationary processes are distinctly detected and robust evidence is assured to indicate that it holds true for six-sevenths of the cities in China. The results mean that those cities are in accordance with the law of one price theory and the ripple effect. The results consider that the convergence order of housing prices from first-tier cities to the target city (Shanghai, China) is lower than second-tier and third-tier cities, in total. A housing space transmission mechanism exists from Eastern to Central China and then to Western China, in total, by the transmission order; this means that a city’s housing prices in those regions converge in space, which makes the geographically surrounding cities’ housing prices converge.
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      Convergence of Regional Housing Prices in China

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    contributor authorLiu Tie-Ying;Su Chi-Wei;Chang Hsu-Ling;Chu Chien-Chi
    date accessioned2019-02-26T07:51:13Z
    date available2019-02-26T07:51:13Z
    date issued2018
    identifier other%28ASCE%29UP.1943-5444.0000451.pdf
    identifier urihttp://yetl.yabesh.ir/yetl1/handle/yetl/4249842
    description abstractThis paper uses the sequential panel selection method (SPSM) to examine the structure convergence of regional housing prices in China. The stationary processes are distinctly detected and robust evidence is assured to indicate that it holds true for six-sevenths of the cities in China. The results mean that those cities are in accordance with the law of one price theory and the ripple effect. The results consider that the convergence order of housing prices from first-tier cities to the target city (Shanghai, China) is lower than second-tier and third-tier cities, in total. A housing space transmission mechanism exists from Eastern to Central China and then to Western China, in total, by the transmission order; this means that a city’s housing prices in those regions converge in space, which makes the geographically surrounding cities’ housing prices converge.
    publisherAmerican Society of Civil Engineers
    titleConvergence of Regional Housing Prices in China
    typeJournal Paper
    journal volume144
    journal issue2
    journal titleJournal of Urban Planning and Development
    identifier doi10.1061/(ASCE)UP.1943-5444.0000451
    page4018015
    treeJournal of Urban Planning and Development:;2018:;Volume ( 144 ):;issue: 002
    contenttypeFulltext
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