Mechanisms Of Real Estate Investment Intensity On Economic Growth

The real estate industry as an important part of China’s economic development is an important driving force of China’s economic growth. With the real estate industry booming in recent years, the rapid development in China, the rapid growth of investment in the real estate industry, the growth rate of investment growth than many other industries. While the real estate industry for the country to contribute to economic and social development, and also appeared in other industries, such as to attract funds through high-margin, so that lack of funds to support the upgrading of enterprises and other issues. Real estate development study the impact on economic growth mechanism, enhance the role of the real estate industry to promote economic growth to widespread concern of government and academia.Based on the related literature review on carding, combing the real estate industry, the logical mechanism of direct and indirect impact of economic growth on the mechanism of action; and secondly from multiple perspectives statistical description of the development of China’s real estate industry analysis reveals China real estate development features; again, the use of relevant data 2000-2012, China’s 30 provincial units in the empirical analysis and robustness tests on real estate development impact on economic growth mechanisms. The basic conclusions of this article are:First, the scale of investment in the development of China’s real estate industry is too big, too fast growth of real estate problems worse.Second, the real estate industry development investment and economic growth in the increasingly serious problem of lack of coordination, real estate investment in driving economic growth in human capital and R & D capital crowd out.Third, the real estate industry has a dual role in promoting economic growth and suppression. On the one hand, the real estate investment industry continues to expand driven by economic growth; on the other hand, investment in the real estate industry will affect the overall level of output accumulated through an indirect effect of capital element. The performance of the direct effects of the real estate investment industry is on economic growth leading role, but the real estate industry investment in human capital through out the R & D capital indirectly inhibit economic growth; a direct role in promoting economic growth in the real estate industry to a certain extent, cover up inhibition of the real estate industry on economic growth.Fourth, in addition to the healthy development of the real estate industry developers to convert investment concepts for the real estate industry development, establish a correct concept of real estate investment, we must also focus on improving competitiveness, emphasis on human resource competitiveness, scientific and technological level of competitiveness. By strengthening personnel training, technological development, increase human capital and technological strength of the building, it is the right way to achieve a stable and sustainable development of the national economy.