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Indexed by:会议论文

Date of Publication:2016-01-01

Included Journals:CPCI-SSH

Page Number:11-16

Key Words:Housing Prices; Property-Purchasing Limitation; LR Test

Abstract:This paper presents a VAR model and LR tests to examine the effects of property-purchasing limitation policy on housing prices at the national, provincial and municipal levels. The results show that at the national level, the effect of the policy is very significant. However, it is not applicable at the provincial level. The policy plays a significant role at the city level in first-tier cities, but there is no significant effect in second-tier cities. Overall, the effects show strong regional characteristics, especially at the city level, which implies that the development and implementation of this policy should be adapted to local conditions.