Open AccessON THE IMPACT OF REAL ESTATE PRICES ON THE DEVELOPMENT OF REGIONAL ECONOMY IN CHINA–AN ESTIMATION BASED ON PANEL QUANTILE REGRESSION MODEL
Author(s) -
Baili Zhang,
Yadong Ma,
Mengyue Yin,
Zhengxun Li
Publication year - 2021
Publication title -
malaysian e commerce journal
Language(s) - English
Resource type - Journals
ISSN - 2616-5155
DOI - 10.26480/mecj.02.2021.51.54
Subject(s) - real estate , quantile regression , quantile , economics , estimation , panel data , china , urbanization , econometrics , finance , economic growth , geography , management , archaeology
The paper analyzes the mechanism of real estate prices on economic development with panel quantile regression model. It is found that real estate prices can significantly promote economic development. Generally speaking, the contribution of real estate prices to economic development in regions with higher level of economic development is higher than that in regions with lower level. With the continuous improvement of the quantile, the impact of real estate prices has generally increased gradually, and the impact of urbanization level basically shows the law of diminishing marginal effect.