Rural-Urban Migration, Structural Transformation, and Housing Markets in China
نویسندگان
چکیده
This paper investigates the interrelationship between urbanization, structural transformation, and post-2000 Chinese housing boom through lens of a dynamic spatial equilibrium model that features migration rich market structure with mortgages. Urbanization transformation emerge as key drivers China's house price boom, while at same time rising prices impede these forces economic transition. Policies to boost urbanization can be undone by endogenous response. Land supply expansion ameliorates this negative feedback. Overall, markets powerfully shape path development. (JEL E23, O18, P23, P25, R23, R31, R58)
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ژورنال
عنوان ژورنال: American Economic Journal: Macroeconomics
سال: 2023
ISSN: ['1945-7707', '1945-7715']
DOI: https://doi.org/10.1257/mac.20160142