Date of Award

2021

Publisher

North Dakota State University

Document Type

Thesis

Degree Awarded

Master of Science (MS)

Program

Agribusiness and Applied Economics

Department

Agribusiness and Applied Economics

College

Agriculture, Food Systems and Natural Resources

Faculty Advisor

Zhang, Lei

Description

With the development of the economy, the real estate industry has increasingly become a major component of China's national economic growth. In this paper, I use a house sales transaction dataset collected from a publicly accessible Chinese real estate website Lianjia to investigate the Home Purchase Restriction (HPR) policy impact on house prices over time. We select data from two cities Nanjing and Chongqing since Nanjing enacted an HPR policy in October 2016 while Chongqing does not have HPR policy in any kind. Using Chongqing as a control group, a difference-in-differences estimation result shows that the negative effect of HPR on house prices starts three months after the policy effective date and continues to dampen the house prices and reaches its strongest effect at around two years after the effective date. However, the negative effect then slightly decreases and remains stable since nine quarters after the HPR effective date.

Rights

NDSU policy 190.6.2

Rights Link

https://www.ndsu.edu/fileadmin/policy/190.pdf

Handle Identifier

https://hdl.handle.net/10365/32523

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