The Contribution of Real Estate Investment to Shandong's Economic Growth

摘要

This paper, based on Shandong's quarterly time series data from the first quarter of 2002 to the second quarter of 2008 and applying methods of VAR model, impulse response function and variance decomposition, makes an empirical analysis of the contribution of real estate investment to Shandong's GDP. It is shown from the results of the empirical analysis that real estate investment can drive the growth of regional economy with great efficiency. GDP has the problem of self-accumulation and self-reliance. For a long period, the contribution of real estate investment to GDP gradually increases.