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Changes in Real Estate Investment in China After the Financial Tsunami

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  • Lubanski Lam

Abstract

This article examines the measures taken by the Chinese government in the real estate sector from 2005 to the first quarter of 2009 in order to get a better understanding of related policy developments. A multivariate regression analysis was performed to determine the effect of such measures, especially credit control, on growing real estate development investments after the financial tsunami. The results indicate that adjusting the money supply in order to influence interest rates could be more effective than long-term measures such as land supply or administrative policies. Importantly, the study concludes that interest rates are market measures that allow the economy to adjust more freely without building up bubbles again, as opposed to mandatory and interventionist government policies.

Suggested Citation

  • Lubanski Lam, 2011. "Changes in Real Estate Investment in China After the Financial Tsunami," Chinese Economy, Taylor & Francis Journals, vol. 44(3), pages 59-70, May.
    • Handle: RePEc:mes:chinec:v:44:y:2011:i:3:p:59-70
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    Cited by:

    1. Bingqin Li & Hyun Bang Shin, 2013. "Intergenerational Housing Support Between Retired Old Parents and their Children in Urban China," Urban Studies, Urban Studies Journal Limited, vol. 50(16), pages 3225-3242, December.
    2. Su, Chi-Wei & Wang, Xiao-Qing & Tao, Ran & Chang, Hsu-Ling, 2019. "Does money supply drive housing prices in China?," International Review of Economics & Finance, Elsevier, vol. 60(C), pages 85-94.

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