Study On The Relationship Between The Real Estate Prices And Stock Prices: The Perspective Of Economic Growth

This essay mainly talks about the interactive relationship among the real estate market, the shock market and the GDP growth rate in china. We tend to discover this relationship by the Co integration analysis to determine the long-term interactions between these three arrays. In order to come up with more concrete results, it follows by the VAR model and the Granger causality analysis. We also use the real estate price in shanghai to treat specially, for we think the shanghai real estate market should be more likely to be bucked as a capital market. As the main conclusion of this essay, china real estate market and the shock market tend to be a cause of each other. The GDP rate counts to part of the shock market boom other than the real estate market. Moreover, the GDP growth rate appears to be a causality of the shanghai real estate boom. This kind of partial wealth effect is a fundamental conclusion of this essay.