China's Real Estate Market
Chang Liu and
Wei Xiong
No 25297, NBER Working Papers from National Bureau of Economic Research, Inc
Abstract:
Since the 1990s, China's real estate market has experienced a dramatic and long-lasting boom across China. This boom has led to substantial concerns in both academic and policy circles that the rising housing prices might have developed into a gigantic housing bubble, which might eventually burst and damage China’s financial system and economy. Motivated by this concern, this paper reviews the historical development of China’s real estate market, describes the real estate boom, and discusses its links to households, local governments, firms and the financial system.
JEL-codes: R21 R28 R3 (search for similar items in EconPapers)
Date: 2018-11
New Economics Papers: this item is included in nep-cna, nep-tra and nep-ure
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