A Tale of Tier 3 Cities

Kenneth Rogoff and Yuanchen Yang

No 30519, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This paper provides new estimates of the housing stock, construction rates and price developments by city tier in China in order to understand where excess supply might be concentrated, and the implications of any significant contraction. We also update estimates of the size of China’s rapidly evolving real estate sector through 2021, allowing one to look at the initial impact of COVID-19, as well as extending the analysis to incorporate urban-expansion related infrastructure construction. We argue that China overall faces imbalances between supply and demand for housing stock, but the problem is significantly deeper in the generally smaller and lower income tier 3 cities, which nevertheless account for more than 60% of both China’s GDP and its housing stock.

JEL-codes: F39 G01 R3 (search for similar items in EconPapers)
Date: 2022-09
New Economics Papers: this item is included in nep-cna and nep-ure
Note: IFM
References: View references in EconPapers View complete reference list from CitEc
Citations:

Published as Kenneth S. Rogoff & Yuanchen Yang, 2024. "A tale of tier 3 cities," Journal of International Economics, .

Downloads: (external link)
http://www.nber.org/papers/w30519.pdf (application/pdf)

Related works:
Working Paper: A Tale of Tier 3 Cities (2022)
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:nbr:nberwo:30519

Ordering information: This working paper can be ordered from
http://www.nber.org/papers/w30519

Access Statistics for this paper

More papers in NBER Working Papers from National Bureau of Economic Research, Inc National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.. Contact information at EDIRC.
Bibliographic data for series maintained by ().