The Estimation and Determinants of the Price Elasticity of Housing Supply: Evidence from China

Songtao Wang (), Su Han Chan () and Bohua Xu ()
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Songtao Wang: Tsinghua University
Su Han Chan: Baruch College, City University of New York
Bohua Xu: University of Southern California

Journal of Real Estate Research, 2012, vol. 34, issue 3, 311-344

Abstract: This 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.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (28)

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