A Study On The Impact Of Real Estate Investment On Economic Growth (1978-2014)

Since the reform and opening up, great changes have taken place in China’s real estate industry, a series of regulatory policy of the past thirty years, has made remarkable achievements, urban per capital housing area increased from 3.6 square meters in 1979 to about 35 square meters in 2014, people’s living standard and living environment will improve the development of the real. The concept of real estate investment gradually by the people familiar with, as a pillar industry of the national economy, has a stimulating effect on economic growth, investment channels on the other hand, the real estate will provide more opportunities to improve the living conditions of the residents, and also provides adequate funds for housing industry to promote its faster development. With the continuous development of the real estate industry, real estate investment has been more mature, with the constant changes in the regulation and control policy, the investment needs of the residents have also been affected.Different from foreign countries, China’s real estate investment development has the characteristics of China, which is closely related to China’s special national conditions and policy guidance. If from the angle of economic history to examine the process of development and evolution of the real estate industry, in the greatest degree reduction of its historical features, understand the development and changes in the real estate investment from the exploration of China’s economic system reform and the reform of the housing system, can strengthen the policy research on the real estate industry, to provide more in line with the economic law theory basis for real estate investment industry policy formulation. Real estate investment since the reform and opening up to the outside world experienced many policy adjustment, of these changes in policy research is helpful to accumulate the experience of more regulation of the industry, through reference before the implementation of a significant effect of the policy, and considering the combination of policy formulation in the current economic situation, to the healthy development of the real estate investment produced a huge role in promoting.In this context. In this paper, the use of economic history research methods, through the study of the course of China’s economic system reform, the stage of development and housing system policy change, the real estate investment division during the period from 1978 to 2014 for four stages, is summed up in two periods. Detailed analysis of the history of the development of real estate investment in each stage, the study of the changes in the real estate investment due to policy regulation, as well as the impact on economic growth. After summarizing predecessors and consolidation of the literature, combined with learned knowledge of modern economics to review literature, summarizes the reasons of the emergence of real estate investment and the development of the law from, and analysis of real estate investment on economic growth effect and the influence mechanism. Through the collation of data from the calendar year, we found that the relationship between the two, combined with the market situation gives policy recommendations.