Housing price and household savings rates: evidence from China

被引：9
|
作者：
Shi Li
Whalley, John
Zhao, Xiliang
机构：
来源：
JOURNAL OF CHINESE ECONOMIC AND BUSINESS STUDIES | 2013年 / 11卷 / 03期
关键词：
house prices; households saving rates; CHIP;
D O I：
10.1080/14765284.2013.814461
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This article investigates the effect of house prices on household savings rates in urban China employing the 2002 and 2007 data of the Chinese Households Income Project (CHIP). We find that the rapid appreciation of house prices cannot explain high Chinese households' savings rates and the rising of Chinese savings rates. On the contrary, we find a negative relationship between house prices and household savings rates for home renters and homeowners. We do not find any evidence of 'savings for housing purchase' for young home renters when house prices increase. Their savings rates declined during housing market booms in recent 10 years. Savings rates of homeowners possessing multiple housing have decreased more because of 'the pure housing wealth effects.'
引用
收藏
页码：197 / 217
页数：21
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