On the Nonlinear Mechanism of the Impact of House Price Fluctuations on the Upgrading of Industrial Structure

GUO Wen-wei; LI Jia-qi

Volume 34 Issue 3

May 2021

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GUO Wen-wei, LI Jia-qi. On the Nonlinear Mechanism of the Impact of House Price Fluctuations on the Upgrading of Industrial Structure[J]. Journal of Guangdong University of Finance & Economics, 2019, 34(3): 14-25.

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GUO Wen-wei, LI Jia-qi. On the Nonlinear Mechanism of the Impact of House Price Fluctuations on the Upgrading of Industrial Structure[J]. Journal of Guangdong University of Finance & Economics, 2019, 34(3): 14-25.

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On the Nonlinear Mechanism of the Impact of House Price Fluctuations on the Upgrading of Industrial Structure

School of Finance, Guangdong University of Finance & Economics, Guangzhou 510320, China

Received Date: 2018-11-21
Available Online: 2021-05-27
Publish Date: 2019-05-28

Abstract

Abstract

Based on the panel data of 259 prefecture-level cities in China, this paper empirically examines the specific mechanism and nonlinear effect of housing price fluctuation on industrial structure upgrading by using the panel intermediary effect model and the threshold panel model. The results show that the fluctuation of house price not only directly inhibits the upgrading of industrial structure, but also inhibits the upgrading of industrial structure through indirect mechanism such as crowding-out effect of innovation and labor force; there are significant differences in the inhibition effect among regions of different housing price, compared with the aregions of middle and low housing price; the effect of the indirect inhibition mechanism on the upgrading of industrial structure is more significant in the regions of high housing price; in the regions of low and middle house prices, the fluctuation of house price mainly shows that it directly inhibits the upgrading of industrial structure.
- house price,
- house price fluctuation,
- industrial structure,
- industrial structure upgrading,
- crowding out effect,
- mediating effect,
- threshold effect

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References(32)

References

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