House Price Diffusion and Cross-Border House Price Dynamics in the Greater China Economic Area_

:::

詳目顯示

第 1 筆 / 總合 1 筆

/1頁

來源文獻資料
摘要
外文摘要
引文資料

題名：	House Price Diffusion and Cross-Border House Price Dynamics in the Greater China Economic Area
書刊名：	住宅學報
作者：	簡美瑟／陳珮芬／胡德中
作者(外文)：	Chien, Mei-se／Chen, Pei-fen／Hu, Te-chung
出版日期：	2015
卷期：	24:2
頁次：	頁27-53
主題關鍵詞：	跨境房價擴散；大中華經濟圈；共整合；因果檢定；變異數分解；Cross-border house price diffusion；Greater China Economic Area；GCEA；Cointegration；Granger causality；Variance decomposition analysis
原始連結：	連回原系統網址
相關次數：	被引用次數:期刊(0) 博士論文(0) 專書(0) 專書論文(0) 排除自我引用:0 共同引用:0 點閱:10

本文針對大中、台、港、新等四個經濟體之房價進行關連性檢驗，在研究方法上以Toda& Yamamoto(1995)因果檢定、變異數分解與衝擊反應函數來分析此四經濟體房價密切程度。本文得到下列結果：第一、此四經濟體之跨境房價間具有共整合之長期關係。第二、因果檢定顯示台灣房價會單向領先中國房價。第三、衝擊反應函數結果顯示香港房價對於新加坡房價有顯著正向衝擊。第四、變異數分解顯示中國房價在長期下為最外生，表示中國房價不易被其他市場影響；台灣房價對其他房價之影響程度則為最高。

以文找文

This paper examines the lead-lag relationships and dynamic linkages among the cross-border house prices of four economies in the Greater China Economic Area(GCEA). We determine the extent and magnitude of their relationships by applying the Toda & Yamamoto(1995) causality test, variance decomposition analysis(GDVC), and impulse response analysis(GIRF). Our empirical results reveal compelling implications. First, the empirical results illustrate a long-run equilibrium among crossborder house prices in the GCEA. Second, the results of the Granger causality test provide evidence of a unidirectional relationship running from Taiwan to China. Third, the GIRF demonstrate that Hong Kong initially has a significantly positive impact on Singapore. Finally, the GDVC results indicate that house prices in China are the most exogenous in the long term, implying that China's market cannot be influenced easily by other markets, whereas Taiwan's market more crucially influences the markets of other regions’ in the GCEA.

以文找文

期刊論文
1.	MacDonald, R.、Taylor, M.(1993)。Regional House Prices in Britain: Long- Run Relationships and Short-Run Dynamics。Scottish Journal of Political Economy，40(1)，43-55。
2.	Meen, G.(1999)。Regional House Prices and the Ripple Effect: A New Interpretation。Housing Studies，14(6)，733-753。
3.	Tsai, I-Chun、Chen, Ming-Chi(2008)。An Analysis of the Asymmetric Volatility of Real Estate Price in the Taipei Area。Journal of Housing Studies，17(2)，1-11。
4.	Songtao, W.、Zan. Y.、Hongyu, L.(2011)。Impact of urban economic openness on real estate prices: Evidence from thirty-five cities in China Original Research Article。China Economic Review，22，42-54。
5.	Abbott, A.、De Vita, G.(2012)。Pairwise Convergence of District-Level House Prices in London。Urban Studies，49(4)，721-740。
6.	Ashworth, J.、Parker, S. C.(1997)。Modelling Regional House Prices in the UK。Scottish Journal of Political Economy，44(3)，225-246。
7.	Awokuse, T. O.(2003)。Is the Export-Led Growth Hypothesis Valid for Canada?。Canadian Journal of, Economics/Revue Canadienne D'economique，36(1)，126-136。
8.	Awokuse, T. O.、Yang, J.(2003)。The Informational Role of Commodity Prices in Formulating Monetary Policy: A Reexamination。Economics Letters，79(2)，219-224。
9.	Berg, L.(2002)。Prices on the Second-Hand Market for Swedish Family Houses: Correlation, Causation and Determinants。European Journal of Housing Policy，2(1)，1-24。
10.	Brown, R. A.(1998)。Overseas Chinese Investments in China - Patterns of Growth, Diversification and Finance: The Case of Charoen Pokphand。The China Quarterly，155，610-636。
11.	Canarella, G.、Miller, S.、Pollard, S.(2012)。Unit Roots and Structural Change: An Application to US House Price Indices。Urban Studies，49(4)，757-776。
12.	Chang, C. O.、Chen, M. C.、Teng, H. J.、Yang, C. Y.(2009)。Is There a Housing Bubble in Taipei? Housing Price v.s. Rent and Housing Price v.s. Income。Journal of Housing Studies，18(2)，1-22。
13.	Chen, P. F.、Chien, M. S.、Lee, C. C.(2011)。Dynamic Modeling of Regional House Price Diffusion in Taiwan。Journal of Housing Economics，20(4)，315-332。
14.	Chiang, M. C.、Lee, C. F.、Tsong, C. C.(2011)。Evidence from Four Areas。Journal of Housing Studies，20(2)，1-24。
15.	Chien, M. S.(2010)。Structural Breaks and the Convergence of Regional House Prices。Journal of Real Estate Finance and Economics，40(1)，77-88。
16.	Chiu, R. L. H.(2006)。Globalisation and Localisation: Performance of the Housing Markets of the Asian Tigers since the Financial Crisis。Housing Finance International，23(3)，12-17。
17.	Chow, Y. F.、Wong, N.(2011)。Property Value, User Cost and Rent: An Investigation of the Residential Property Market in Hong Kong。Journal of Business and Economics Research，1(9)，9-17。
18.	Chua, B. H.(2003)。Maintaining Housing Values under the Condition of Universal Homeownership。Housing Studies，18(3)，765-780。
19.	Deng, Y.、McMillen, D. P.、Sing, T. F.(2012)。Private Residential Price Indices in Singapore: A Matching Approach。Regional Science and Urban Economics，42(3)，485-494。
20.	Forrest, R.、Lee, J.(2004)。Cohort Effects, Differential Accumulation and Hong Kong's Volatile Housing Market。Urban Studies，41(11)，2181-2196。
21.	Gupta, R.、Andre, C.、Gil-Alana, L.(2014)。Comovement in Euro Area Housing Prices: A Fractional Cointegration Approach。Urban Studies。
22.	Ho, L. S.、Ma, Y.、Haurin, D. R.(2007)。Domino Effects within a Housing Market: The Transmission of House Price Changes across Quality Tiers。Journal of Real Estate Finance and Economics，37(4)，299-316。
23.	Holmes, M.(2007)。How Convergent Are Regional House Prices in the United Kingdom? Some New Evidence from Panel Data Unit Root Testing。Journal of Economic and Social Research，9(1)，1-17。
24.	Holmes, M. J.、Otero, J.、Panagiotidis, T.(2011)。Investigating Regional House Price Convergence in the United States: Evidence from a Pair-Wise Approach。Economic Modelling，28(6)，2369-2376。
25.	Holmes, M.、Grimes, A.(2008)。Is There Long Run Convergence among Regional House Prices in the UK?。Urban Studies，45(8)，1531-1544。
26.	Huang, F. X.、Yun, Z. H. O. U.、Cheng, L. I.(2010)。Ripple Effect of Housing Prices Fluctuations among Nine Cities of China。Management Science and Engineering，4(3)，41-54。
27.	Igan, D.、Kabundi, A.、De Simone, F.、Pinheiro, M.、Tamirisa, N.(2011)。Housing, Credit, and Real Activity Cycles: Characteristics and Comovemen。Journal of Housing Economics，20(3)，210-231。
28.	Jones, C.、Leishman, C.(2006)。Spatial Dynamics of the Housing Market: An Interurban Perspective。Urban Studies，43(7)，1041-1059。
29.	Jones, C.、Leishman, C.、Watkins, C.(2004)。Exploring Linkages between Housing Submarkets: Theory, Evidence and Policy Implications。Housing Studies，19(2)，269-283。
30.	Kasparova, D.、White, M.(2001)。The Responsiveness of House Prices to Macroeconomic Forces to Macroeconomic Forces across Country Comparison。European Journal of Housing Policy，1(3)，385-416。
31.	Kyriazakou, E.、Panagiotidis, T.(2014)。Linear and Nonlinear Causality in the UK Housing Market: A Regional Approach。Economics and Business Letters，3(4)，288-297。
32.	Lean, H. H.、Smyth, R.(2013)。Regional House Prices and the Ripple Effect in Malaysia。Urban Studies，50(5)，895-922。
33.	Lee, C. C.、Chien, M. S.(2011)。Empirical Modelling of Regional House Prices and the Ripple Effect。Urban Studies，48(10)，2029-2047。
34.	Liao, W. C.、Zhao, D.、Lim, L. P.、Wong, G. K. M.(2014)。Foreign Liquidity to Real Estate Market: Ripple Effect and Housing Price Dynamics。Urban Studies，52(1)，138-158。
35.	Newell, G.、Chau, K. W.、Wong, S. K.、Liow, K. H.(2009)。The Significance and Performance of Property Securities Markets in the Asian IFCs。Journal of Property Research，26(2)，125-148。
36.	Oikarinen, E.(2006)。The Diffusion of Housing Price Movements from Center to Surrounding Areas。Journal of Housing Research，15(1)，3-28。
37.	Ronald, R.(2007)。Comparing Homeowner Societies: Can We Construct an East-West Model?。Housing Studies，22(4)，473-493。
38.	Ronald, R.(2010)。Housing Policy Realignment in East Asia。Housing Finance International，24(4)，37-43。
39.	Shan, J.、Tian, G. G.(1998)。Causality between Exports and Economic Growth: The Empirical Evidence from Shanghai。Australian Economic Papers，37(2)，195-202。
40.	Sing, T. F.、Tsai, I. C.、Chen, M. C.(2006)。Price Dynamics in Public and Private Housing Markets in Singapore。Journal of Housing Economics，15(4)，305-320。
41.	Stevenson, S.(2004)。House Price Diffusion and Inter-Regional and Cross-Border House Price Dynamics。Journal of Property Research，21(4)，301-320。
42.	Tseng, C. Y.、Chang, C. O.、Hua, C. C.(2005)。The Dynamic Relationship of Rents and Prices among Taipei Housing Spatial Submarkets。Journal of Housing Studies，14(2)，27-49。
43.	Vansteenkiste, Isabel、Hiebert, Paul(2011)。Do House Price Developments Spillover across Euro Area Countries? Evidence from a Global VAR。Journal of Housing Economics，20(4)，299-314。
44.	Wang, K. M.、Lee, Y. M.(2008)。Asymmetric Inflation Hedge of Housing Return: A Non-Linear Vector Error Correction Approach。International Real Estate Review，11(1)，65-82。
45.	Wang, K. M.、Thi, T. B. N.(2010)。Asymmetric Pass-through and Risk of Interest Rate: An Empirical Exploration of Taiwan and Hong Kong。Applied Economics，42(5)，659-670。
46.	Wolde-Rufael, Yemane(2004)。Disaggregated Industrial Energy Consumption and GDP: The Case of Shanghai, 1952-1999。Energy Economics，26(1)，69-75。
47.	Worzala, E.、Bernasek, A.(1996)。European Economic Integration and Commercial Real Estate Markets: an Analysis of Trends in Market Determinants。Journal of Real Estate Research，11(2)，159-181。
48.	Yang, J.、Kolari, J.、Zhu, G.(2005)。European Public Real Estate Market Integration。Applied Financial Economics，15(13)，895-905。
49.	Zhang, F.、Morley, B.(2014)。The Convergence of Regional House Prices in China。Applied Economics Letters，21(3)，205-208。
50.	Chowdhury, A.、Mavrotas, G.(2006)。FDI and growth: What Causes What?。The World Economy，29(1)，9-19。
51.	Soytas, U.、Sari, R.、Ewing, B. T.(2007)。Energy consumption, income, and carbon emissions in the United States。Ecological Economics，62(3/4)，482-489。
52.	Toda, Hiro Y.、Yamamot, Taku(1995)。Statistical Inference in Vector Autoregression with Possibly Integrated Processes。Journal of Econometrics，66(1/2)，225-250。
53.	Wolde-Rufael, Y.(2006)。Electricity Consumption and Economic Growth: A Time Series Experience for 17 African Countries。Energy Policy，34(10)，1106-1114。
54.	Zapata, H. O.、Rambaldi, A. H.(1997)。Monte Carlo evidence on cointegration andcausation。Oxford Bulletin of Economics & Statistics，59(2)，285-298。
55.	Masih, R.、Masih, A. M. M.(2001)。Long and short term dynamic causal transmission amongst international stock markets。Journal of International Money and Finance，20(4)，563-587。
56.	Pesaran, M. H.、Shin, Y.(1998)。Generalised Impulse Response Analysis in Linear Multivariate Models。Economics Letters，58(1)，17-29。
57.	Chao, Chien-min(2003)。Will Economic Integration Between Mainland China and Taiwan Lead to a Congenial Political Culture?。Asian Survey，43(2)，280-304。
58.	Ng, Serena、Perron, Pierre(2001)。Lag Length Selection and the Construction of Unit Root Tests with Good Size and Power。Econometrica，69(6)，1519-1554。
59.	Cheung, Y. W.、Lai, K. S.(1993)。Finite Sample Sizes of Johansen's Likelihood Ratio Tests for Cointegration。Oxford Bulletin of Economics and Statistics，55(3)，313-328。
60.	Osterwald-Lenum, M.(1992)。A Note with Quantiles of the Asymptotic Distribution of the Maximum Likelihood Cointegration Rank Test Statistics。Oxford Bulletin of Economics and Statistics，54(3)，461-471。
61.	Johansen, Søren(1988)。Statistical Analysis of Cointegration Vectors。Journal of Economic Dynamics and Control，12(2/3)，231-254。
62.	Johansen, Søren、Juselius, Katarina(1990)。Maximum Likelihood Estimation and Inference on Cointegration: with Applications to the Demand for Money。Oxford Bulletin of Economics and Statistics，52(2)，169-210。
63.	Alexander, C.、Barrow, M.(1994)。Seasonality and Cointegration of Regional House Prices in the UK。Urban Studies，3(10)，1667-1689。
64.	Yeung, H. W. C.(2000)。Local Politics and Foreign Ventures in China's Transitional Economy: The Political Economy of Singaporean Investments in China。Political Geography，19(7)，809-840。
65.	Doling, J.(1999)。Housing policies and the little tig ers: how do they compare with other industrialized countries?。Housing Studies，14(2)，229-250。

研究報告
1.	Cheung, Y.、Yuen, J.(2004)。The Suitability of a Greater China Currency Union。Hong Kong Institute for Monetary Research。
2.	Kawai, M.、Wignaraja, G.(2010)。Asian FTAs: Trends, Prospects, and Challenges。Asian Development Bank。
3.	Parsa, A.(1993)。The Role of Research - Overcoming the Barriers to an Integrated Property Market in Europe。Department of Estate Management, South Bank University。
4.	Rydin, Y. L.、Ellison, E. G.、Hayward, R. E. H.、Parsa, A. R. G.、Taylor, K.(1990)。After 1992: Monetary, Political and Institutional Developments Linked to the Completion of the Single Market。Department of Estate Management, University of East London。
5.	Thorbecke, Willem(2011)。The Effect of Exchange Rate Changes on Trade in East Asia。Asian Development Bank Institute。

圖書
1.	Healey, P.、Baker, G. P.(1992)。Prospects for Commercial Property in the 1990's: The UK Market in Its European Context。London：Financial Times Business Information。
2.	Wang, Ya Ping、Murie, Alan(1999)。Housing Policy and Practice in China。New York：St Martin's Press。

推文
推薦
引用網址
引用嵌入語法
轉寄

top

:::

相關期刊
相關論文
相關專書
相關著作
熱門點閱

1.	臺灣產業外移大陸與臺灣經濟之互動影響

1.	總體經濟與壽險業發展之動態關係－台灣實證研究

無相關書籍

無相關著作

1.	中式麵條的感官品評與消費者偏好程度之分析
2.	探討腳底按摩的功效--文獻回顧
3.	肌內效貼布貼紮對踝關節扭傷療效之探討
4.	腳底按摩消費者之消費行為探討
5.	茶葉養生探討
6.	大學生中藥用藥安全認知之研究
7.	2015美國職籃經營管理之探討--以克里夫蘭騎士隊為例
8.	2015全球人口老化與健康之探討
9.	2015水中有氧運動對身體健康的影響
10.	運動贊助與產業關聯性之研究--以季賽型職業運動為例
11.	校長轉型領導與體育組長組織承諾關係之研究--以花、東地區國小為例
12.	未來明日之星產業之研究--以生化保養科技業股為例
13.	大學校院體育教師教學工作投入現況與關係之研究
14.	橄欖球運動之介紹
15.	網路口碑與品牌形象關係之研究--以女兒紅婚宴會館為例

QR Code

臺灣人文及社會科學引文索引資料庫系統

詳目顯示

臺灣人文及社會科學引文索引資料庫