An Analysis Of The Impact Of Real Estate Investment On Economic Growth

The decline of China's economic growth has led to the discussion of its reasons.As a pillar industry of the national economy.the real estate industry has a long industrial chain and a wide spread range.Its dynamic energy will impact a series of forward and backward related industries and affect the whole macro-economic trend.From the perspective of the impact of real estate development investment on economic growth,this paper tries to explain the reasons for the decline of economic growth in China today.First,we use the input output model to quantify the correlation degree between the real estate industry and the related industries.We also focus on the analysis of the impulse response analysis of three related industries,including steel,cement and glass,to clarify the driving effect of the real estate industry on the related industries.Then,by using Granger causality test,generalized impulse response analysis and variance decomposition analysis,we study the interactive relationship between China's real estate development investment and GDP,and draw the conclusion that real estate investment has an impact on economic growth.Finally,the international comparison is carried out.Through empirical analysis of the economic growth and real estate development process of the developed countries such as the United States and Japan,we further draw inspiration for China's current economic growth rate decline and real estate industry changes,and propose countermeasures.