Graduation Year

2015

Date of Submission

4-2015

Document Type

Campus Only Senior Thesis

Degree Name

Bachelor of Arts

Department

Economics

Reader 1

Richard C. K. Burdekin

Rights Information

© 2015 Yi min (Bonnie) Yan

Abstract

The extent of influence of monetary policies on housing prices in the Greater China region is examined in this study using data from 2005-2015. Using vector autoregression, the effects of housing indices, interest rates, money supply as well as stock market index are accessed. Results suggest that monetary policies do in fact influence housing market trends in Greater China. Furthermore, the extent of influence on Mainland China on the Hong Kong and Taiwan markets is also tested. Results imply a greater co-integration between the Mainland and Hong Kong market than that between Mainland and Taiwan. The effect of exchange rate is deemed as insignificant. Housing policies set by national and local governments show to be less influential than predicted. Lastly, granger causality is not present between the different markets within this study.

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