EconPapers    
Economics at your fingertips  
 

THE ADVERSE EFFECTS OF ECONOMIC POLICY UNCERTAINTY ON INDEMNIFICATORY HOUSING MARKET IN CHINA

Jian Fu (), Xiaofen Yu (), Chun Kwong Koo and Wai Choi Lee ()
Additional contact information
Jian Fu: Zhejiang University of Technology, Hangzhou, P. R. China
Xiaofen Yu: Zhejiang University of Technology, Hangzhou, P. R. China
Chun Kwong Koo: ��ESIC Business and Marketing School, Madrid, Spain
Wai Choi Lee: ��The Hang Seng University of Hong Kong, Hong Kong

The Singapore Economic Review (SER), 2021, vol. 66, issue 05, 1337-1353

Abstract: This paper empirically examines the impact of the economic policy uncertainty (EPU) index on market indicators of indemnificatory houses in China for the period from January 2012 to December 2018. We use three indicators of the indemnificatory housing market: (i) the price of commodity housing unit, (ii) the number of completion for indemnificatory housing unit and (iii) the amount of investment for indemnificatory housing unit. The findings from the Granger Causality in Distribution test show that the EPU causes the commodity housing price at the left-tail and the right-tail, but not at the centre of the distribution. Besides, the EPU causes the indemnificatory housing completion volume at the right tail, but not at the left and the centre of the distribution. Finally, we observe that the EPU causes the indemnificatory housing investment at the right tail but not at the left and the centre of the distribution. These findings indicate that the indemnificatory housing market in China is mainly affected by the extreme changes in the EPU.

Keywords: Chinese housing market; indemnificatory housing policies; economic policy uncertainty; EPU index; Granger Causality in Distribution (search for similar items in EconPapers)
Date: 2021
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://www.worldscientific.com/doi/abs/10.1142/S0217590820460017
Access to full text is restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wsi:serxxx:v:66:y:2021:i:05:n:s0217590820460017

Ordering information: This journal article can be ordered from

DOI: 10.1142/S0217590820460017

Access Statistics for this article

The Singapore Economic Review (SER) is currently edited by Euston Quah

More articles in The Singapore Economic Review (SER) from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().

 
Page updated 2021-10-28
Handle: RePEc:wsi:serxxx:v:66:y:2021:i:05:n:s0217590820460017