Research on the Influence of Real Estate Investment on Economic Growth in Beijing

By the end of 1980s, reforms of the land system and urban housing system had begun. With the rapid growth of the real estate investment, the relationship between economic growth and real estate investment is attracting more and more people's attention. In this paper, two indexs - real estate development investment and per capita GDP stand for the level of Beijing's real estate investment and economic growth. By adopting the root stationary test, cointegration test and error modification model, this article analyzes the real estate investment's influence on Beijing's economic growth. All of the data are between 1986-2009. The conclusion shows that real estate investment plays an important and positive role in the economic growth in Beijing. In addition, the influence chiefly embodies in a short-term.