Empirical Analysis of Linkage Effects between Stock Market, Real Estate Market and Bulk Commodity Market in China

摘要

The Chinese Government has continuously introduced different real estate policies in 2010, which caused the real estate market fluctuation, while the domestic inflationary pressure is becoming heavier and heavier. Many scholars believe that the real estate market, stock market and commodity markets are closely linked, but different people have different viewpoints. In this paper, by cointegration analysis method, on the basis of the Chinese monthly index datas from 2005 to 2010, we analyzed real estate market, stock market and bulk commodity market and obtained some conclusions. They are as follows:the Chinese real estate market and the stock market was interactive, promoting each other in the long run, bulk commodity market and stock market showed longterm stable positive correlation, but bulk commodity market and real estate market are negatively correlated.