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THE EVOLUTION OF THE HOUSING MARKET AND ITS SOCIOECONOMIC IMPACTS IN THE POST‐REFORM PEOPLE'S REPUBLIC OF CHINA: A SURVEY OF THE LITERATURE
Author(s) -
Chen Jie,
Han Xuehui
Publication year - 2014
Publication title -
journal of economic surveys
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.657
H-Index - 92
eISSN - 1467-6419
pISSN - 0950-0804
DOI - 10.1111/joes.12076
Subject(s) - people's republic , china , economics , socioeconomic status , chinese economy , the republic , economic growth , political science , sociology , population , demography , theology , law , philosophy
The development of the housing market in the People's Republic of China is not only a major component of Chinese economic growth but also has wide‐ranging influential impacts on Chinese society. A burgeoning number of papers have examined the housing market in the postreform People's Republic of China from various perspectives. This paper aims to provide a thorough survey of the key literature in the field and then supply a complete picture of the dynamics of the housing market in the People's Republic of China. To assess the functional efficiency of this nascent market, we pay particular attention to the literature that is related to the academic debate over the Chinese housing bubble issue. The structure and operation of the housing market is another major concern in this paper. Finally, we summarize the key insights of the literature that we surveyed, note research gaps in the literature, and discuss further research directions in this field.