The Analysis Of Real Estate Investment On The Economic Growth In Hunan Province

With the rapid economic growth, the rapid development of real estate, real estate investment role in promoting economic growth has become increasingly important. Based on real estate investment and investment in fixed assets, fixed assets and investment, investment and economic growth theory, using the gray relational analysis and VAR model to analyze the obtained changes in real estate investment in Hunan Province's influence on economic growth for Hunan Provincial real estate investment and economic development experience and provide some theoretical guidance.Firstly, selecting 2000-2008 annual data in Hunan Province as the research base, use of gray relational method to analysis fixed asset investment is the primary factor of economic development in Hunan. All sectors of society by analyzing the ratio of investment in fixed assets, real estate investment in fixed assets reached in total fixed asset investment in importance. So verify the real estate investment for economic development.Then selects 1986-2008 year Hunan Province's annual data, carries on the unit root examination first to the data, then establishes cooperates the entire model, the result demonstration investment in real estates and the economic growth exists long-term balanced relations. In order to establish the VAR model to analysis the reciprocity between real estates investment and economic growth in Hunan Province has provided the premise foundation.Finally, with the VAR model (VAR model), using the impulse response function to analysis the long term impact of real estate investment in Hunan Province on economic growth. Therefore, in order to enhance real estate investment pulling effect on the economy, real estate market should establish appropriate policies to promote economic development.