The Estimation and Determinants of the Price Elasticity of Housing Supply: Evidence from China
AbstractThis paper provides a first look at estimates of the price elasticity of housing supply in China at both the national and city levels. Using a panel dataset consisting of 35 cities in China from 1998 to 2009, we find the implied national price elasticity of housing supply to be between 2.8 and 5.6. Our city-level analysis reveals that geographic, economic as well as regulatory factors are significant determinants of the variation in the observed price elasticity of housing supply. The study of a different regulatory and economic environment contributes to the growing literature on supply elasticity and helps explain the seemingly wide variation in supply elasticities observed across cities and countries.
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Bibliographic InfoArticle provided by American Real Estate Society in its journal journal of Real Estate Research.
Volume (Year): 34 (2012)
Issue (Month): 3 ()
Contact details of provider:
Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
Web page: http://www.aresnet.org/
Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
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- Elias Oikarinen & Risto Peltola & Eero Valtonen, 2014. "Regional variation in the elasticity of supply of housing, and its determinants: The case of a small sparsely populated country," Discussion Papers 91, Aboa Centre for Economics.
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