Regional Housing Supply Elasticity in China 1999-2013: A Spatial Equilibrium Analysis

Dan Rickman and Hongbo Wang

No 1606, Economics Working Paper Series from Oklahoma State University, Department of Economics and Legal Studies in Business

Abstract: In this paper, we apply a spatial equilibrium growth model (Glaeser and Tobio, 2008) to examine relative housing price growth across the provinces and municipalities of mainland China for 1999-2013. The spatial equilibrium growth model is built upon the traditional static Rosen- Roback spatial equilibrium model. A distinguishing feature is the addition of a regionally- varying elasticity of housing supply. A primary finding is the significant geographical differences in housing price growth and the importance of differences in regional housing supply in explaining the differences in housing price growth. Regions in the East had the most inelastic housing supply, while northern regions had the most elastic housing supply.

Keywords: Chinese housing markets; Housing supply elasticity; Urban economics; Economic geography (search for similar items in EconPapers)
JEL-codes: R00 (search for similar items in EconPapers)
Pages: 23 pages
Date: 2016-02
New Economics Papers: this item is included in nep-cna, nep-geo, nep-tra and nep-ure
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Related works:
Working Paper: Regional Housing Supply Elasticity in China 1999-2013: A Spatial Equilibrium Analysis (2016)
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