Property tax and speculative bubble: An empirical analysis of Tianjin

Wei Li ()
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Wei Li: School of Business, Nankai University, Tianjin 300071, China

Frontiers of Economics in China-Selected Publications from Chinese Universities, 2008, vol. 3, issue 4, 627-643

Abstract: The main purpose of this paper is to identify and measure the potential effect of property tax on speculative bubble in residential property market in China where the issue on the introduction of property tax is still fiercely debated. As a primary and necessary step, we firstly provide an empirical analysis on housing price dynamics of Tianjin. Moreover, this paper proposes a method to identify and measure the potential effect of property tax on speculative bubble in housing market. To capture the actual influence of property tax, we divide the effect into short-term one and long-term one and measure them respectively based on the information provided by estimation result of housing price structure.

Keywords: property tax; speculative bubble; housing price (search for similar items in EconPapers)
JEL-codes: C53 H22 (search for similar items in EconPapers)
Date: 2008
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