Research on the Impact of Economic Openness on Real Estate Prices——Empirical Analysis Based on Sys-GMM Model
Abstract
This paper establishes a dynamic panel model based on the Balassa-Samuelson hypothesis, and uses the Sys-GMM method to conduct empirical analysis. It is found that: (1) Economic openness has a significant positive impact on the real estate price. The real estate price rises by 0.146% for every 1% increase in economic openness. (2) In the eastern cities, economic openness can promote the rise of house prices more.In central and western cities, the role of economic openness is not significant. (3) By adjusting the sample period to test the model, we can get a conclusion similar to the national sample regression.
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DOI: http://dx.doi.org/10.18686/fm.v8i3.9004
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