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Do regional house prices converge or diverge in China?

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  • Guangyu Mao

Abstract

This paper aims to test whether the regional house prices are convergent or divergent in China using a monthly panel data set of China’s 70 large and medium-sized cities from July 2005 to December 2010. This issue is closely related to understanding the efficiency of the country-level housing policies made by China’s central government. The test results suggest that the regional house prices in China are generally divergent, and thereby the country-level policies may be inefficient since they do not explicitly take the strong heterogeneity of China’s regional housing markets into consideration. As a consequence, it may be better for China’s central government to further decentralize and devolve its governance toward the housing market to the local governments.

Suggested Citation

  • Guangyu Mao, 2016. "Do regional house prices converge or diverge in China?," China Economic Journal, Taylor & Francis Journals, vol. 9(2), pages 154-166, May.
    • Handle: RePEc:taf:rcejxx:v:9:y:2016:i:2:p:154-166
    DOI: 10.1080/17538963.2016.1164493
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    Cited by:

    1. Vijay Kumar Vishwakarma, 2021. "Long-run drivers and integration in interprovincial Canadian housing price relations," International Journal of Housing Markets and Analysis, Emerald Group Publishing Limited, vol. 16(1), pages 22-40, November.

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