碩士 / 世新大學 / 傳播管理學研究所(含碩專班) / 107 / The real estate industry is made up of industries such as real estate development, operation, sales and service. As an important sector of the Chinese national economy, it is an important part of the wealth of the whole society, and is closely related to the growth of the macro economy. From 1998 to 2011, the average growth rate of real estate development investment in China was much higher than the growth rate of GDP. The direct contribution rate of real estate development investment to GDP increased from 6.32% to 10.95%, and up to 23.6% in 2010. The real estate industry has led to the development of more than 50 material production departments, such as building, building materials, metallurgy, and other industries such as housing consumption, such as furniture, decoration, household appliances and other industries. Therefore, the real estate industry has a stable and long-term impact on the development of national economy and social development.
With the rapid development of real estate industry in mainland China, there are also some problems. For example, the price of real estate is too high and its rising speed is far beyond the growth rate of income, which makes it difficult for middle and low income families to solve the housing problem through market approach. In order to solve these problems, the Chinese government has regulated the real estate market many times, from "eight countries", "six countries", "four countries" to "ten countries", which does not show the Chinese mainland government's determination to control the real estate market. As a capital intensive industry, the real estate industry is closely related to the change of macro-control policies. With the development of the real estate market in mainland China, the sensitivity of the real estate industry to macro control policy has been constantly improved, and the macro-control policy has become an important tool for controlling the real estate industry. Therefore, it is of great theoretical significance and practical significance to study the impact of macroeconomic regulation and control policies on the real estate boom cycle.
This study selects the real estate price index from the first quarter to the first quarter of 2003 to the first quarter of 2013 in Shanghai, and combined with the intermediary indicators of China's related monetary policy, the effect of the monetary regulation policy on the price of real estate in Shanghai is empirically studied. Since the real estate market in mainland China began to develop rapidly in 2003 and the real estate prices have risen rapidly, the mainland authorities have also conducted multiple rounds of regulation on the real estate market from 2003, so the selected data can basically reflect the effect of China's monetary control policy on the real estate market.
Through empirical analysis, this study can prove that China's monetary policy has a certain impact on real estate prices. However, due to the long lag period of the impact of monetary policy on real estate prices, it takes a long time to embody the impact of monetary policy on real estate prices. This is mainly due to the fact that China's interest rate is still under control, and the real market is not realized, and the effectiveness of monetary policy through the interest rate management is not strong, so it is in China At this stage, the rigid demand of real estate and the serious speculative mentality of real estate make the price of real estate finally rise.
| Identifer | oai:union.ndltd.org:TW/107SHU00375004 |
| Date | January 2019 |
| Creators | YANG, CHAO-CHING, 楊朝欽 |
| Contributors | SU, CHIEN-CHOU, 蘇建州 |
| Source Sets | National Digital Library of Theses and Dissertations in Taiwan |
| Language | zh-TW |
| Detected Language | English |
| Type | 學位論文 ; thesis |
| Format | 77 |
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