摘要
本文基于房地产双属性特征,提出了能够更加准确刻画2003~2017年中国房地产市场发展过程的D-W修正模型,在此基础上利用我国35个大中城市的相关数据,实证研究了房地产双重属性特征与房价水平之间的因果关系。研究发现:(1)我国房地产的现状与修正的D-W四象限理论模型基本吻合,房地产双属性特征是引起中国房价水平上涨的主要原因。(2)考虑到城市水平,房地产双属性特征对房价水平的影响也是不同的:三线城市的房价水平受房地产双属性特征的共同影响;而对于一线城市与二线城市,房价水平主要受投资属性的影响,而房地产的消费属性并没有显著影响城市房价水平。
Based on the dual-attribute characteristics of real estate,this paper proposes a D-W modified model that can describe the development process of China’s real estate market from 2003 to 2017 more accurately.Then,this paper makes an empirical studies of the causal relationship between the dual-attribute characteristics of real estate and the housing price by using relevant data of 35 large and medium-sized cities in China.The findings of this paper are as follows:(1)The current situation of China’s real estate is basically consistent with the modified DW four-quadrant theoretical model.(2)Considering the city level,the two-attribute characteristics of real estate have different influences on the housing price level:the housing price level of third-tier cities is influenced by the two-attribute characteristics of real estate;And for first-tier and second-tier cities,the housing price level is mainly affected by the investment attribute,while the consumption attribute of real estate does not affect the urban housing price level significantly.
作者
黄振宇
董骥
吴立春
Huang Zhenyu;DONG Ji;Wu Lichun(School of business,Shandong University of architecture,250100;School of Statistics,Shandong University of Finance and Economics,250014;Shandong Vocational and Technical University of Engineering,250200)
出处
《制度经济学研究》
2020年第1期276-290,共15页
Research on Institutional Economics
关键词
房地产双属性特征
房价水平
D-W修正模型
The Dual-Attribute Characteristics of Real Estate
Housing Price
the Modified D-W Four-Quadrant Model
作者简介
黄振字,经济学博士,山东大学产业与金融协同发展研究中心研究员,山东建筑大学商学院副教授,地址:(250100)山东省济南市山大南路27号,E-mail:landsun_ceo@126.com;董骥,经济学博士,山东财经大学统计学院讲师,地址:(250014)山东省济南市二环东路7366号,E-mail:dongji22137087@126.com;吴立春,经济管理硕士,高级工程师,山东工程职业技术大学理事长,地址:(250200)山东省济南市章丘区6196号,E-mail:18953115377@189.cn。
