JOURNAL ARTICLE

THE 2008 ECONOMIC STIMULUS PLAN AND HOUSING PRICE: THE ROLE OF SOES.

  • Published In: Singapore Economic Review, 2024, v. 69, n. 2. P. 697 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: HAN, SHI-ZHUAN; WEI, HONGHONG; HUANG, BIHONG; Li, Jie 3 of 3

Abstract

How does China's 2008 economic stimulus plan affect housing price through the channel of state-owned enterprises (SOEs)? Utilizing a sample of 206 Chinese cities and a different-in-difference approach, we show that the housing prices in cities with a higher prevalence of SOEs, tend to grow disproportionately faster than that in cities with lower prevalence of SOEs after the shock of 2008 China's stimulus plan. The heterogeneity tests show that the SOE channel plays a more important role in cities with more city investment bonds, less financial development and lower level of marketization. Our conclusion is robust across a battery of sensitivity tests. [ABSTRACT FROM AUTHOR]

Additional Information

  • Source:Singapore Economic Review. 2024/03, Vol. 69, Issue 2, p697
  • Document Type:Article
  • Subject Area:Politics and Government
  • Publication Date:2024
  • ISSN:0217-5908
  • DOI:10.1142/S021759082141006X
  • Accession Number:177433324
  • Copyright Statement:Copyright of Singapore Economic Review is the property of World Scientific Publishing Company and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

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