This paper investigates the relationship between housing investment and economic growth in China, utilising province-level data via recently developed panel unit root tests and panel co-integration analysis. The empirical results suggest a stable long-run relationship between housing investment,...

This paper investigates the impact of disposable income and assets on consumer spending trends in China. By employing the vector error correction model on the national quarterly data, we demonstrate that the wealth effects arising from asset value changes are remarkable. There is only one...

The paper investigates the relationship between changes in asset wealth and the trend movements of household consumption in urban China. Using the vector error correction cointegration model, we demonstrate that there is a unique long-run cointegrating relationship between household consumption,...