A Study On The Interaction Between Real Estate Investment And Economic Growth In Xi'an

As an important part of social fixed assets investment, real estate investment plays a very important role in economic growth. In recent years, real estate investment of some areas in China appears some problems, such as too large scale, too fast growth rate and structural imbalance. These problems bring large hidden trouble for stable growth of national economy. Therefore, study interaction between real estate investment and economic growth from several angles has significance of making related policy, implementing macro-control, realizing benign interaction between real estate industry and macro-economy.The paper summarizes related theories of real estate investment and economic growth; analyzes trajectories of real estate investment and economic growth by citing related time series data; analyzes pulling function and efficiency quantitatively of real estate investment on the economy growth, and causality between real estate investment and economic growth in Xi'an; on the basis, builds the VEC model, analyzes dynamic response relation between real estate investment and economic growth that is subjected to impact with each other in Xi'an by using impulse response function; evaluates Coordination between real estate investment and national economy in Xi'an by using principal component analysis and 3σrule of normal distribution, which judges heat of real estate investment by a perspective of scale and growth rate, also puts forward policy suggestions on regulating real estate investment in Xi'an.Research on this problem enriches theories of real estate investment and economic growth, provides reference for studying of other cities, and has important guiding significance of making policy reasonably about real estate industry by the Xi'an government and promoting coordinated development of Xi'an real estate industry and national economy.