Real Estate Investment, Loan Preference, and National Happiness: Evidence from China

Shangan Ke and Xinhai Lu
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Shangan Ke: School of Public Administration, Central China Normal University, Wuhan 430079, China
Xinhai Lu: College of Public Administration, Huazhong University of Science and Technology, Wuhan 430074, China

Land, 2021, vol. 10, issue 4, 1-15

Abstract: With two-stage least squares and LS models, this paper investigates the effects of real estate investment and loan preference on national happiness with data of 31 provinces in China from 2000 to 2018. The conclusions are that a rapid growth of real estate investment has significant adverse effects on national happiness in modern China. Specifically, real estate investment has negative impacts on disposable income, consumption structure, and personal development. Moreover, the rapid growth of real estate investment and institutions’ loan preference leads to other inhibitory effects on national happiness. The intermediary effect model confirms the transmission mechanism of the rapid growth of real estate investment, the loan structure, and national happiness. According to our research, we propose conductive suggestions for the governments.

Keywords: real estate investment; national happiness; loan structure; inhibitory effect; China (search for similar items in EconPapers)
JEL-codes: Q15 Q2 Q24 Q28 Q5 R14 R52 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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