The Assessment On Efficiency Of Real Estate Of China Based On Three-staged DEA Method

The real estate industry,an important force to promote the development of the national economy,has become an indispensable important part of modern economic society,and the efficiency of the real estate industry also affect the quality and speed of economic development to a certain extent in China,so the study of efficiency for the real estate industry has increasingly become a hot social concern.At present,the measure for the efficiency of the real estate industry at home and abroad mainly adopts the analysis method of data envelopment analysis(DEA),but without considering the external environment factor and the random noise effect on the efficiency value,the result of the measurement accuracy is not high,or the real estate industry efficiency analysis for the dynamic change during the sample evaluation.Our country is a large country,and the regional economy,culture and background is different obviously,if we do not consider the external environment factors and the effect of random error,the result is difficult to reflect the real situation of the real estate industry' development in our country.Therefore,this article uses the three-stage DEA method to study the efficiency of the real estate industry,which makes the efficiency of the measuring value more objective and accurate.Due to the three stage DEA model is still belongs to the static evaluation,which also fails to reflect the situation of technological progress,so in this paper,by using the Malmquist productivity index model assesses the efficiency of real estate industry's dynamic changes from 2005 to2014 in China,which is from two aspects: static analysis and dynamic analysis of investigating the efficiency of the real estate industry in our country in an all-round way.The Study found that:(1)The three stage DEA model more reasonable and accurate than traditional DEA model from the measured results.(2)The environmental factors on the efficiency of the real estate industry has a significant effect.Therefore,it must be adjusted for the environmental factors and random factors,Which makes each decision-making unit under the same external environment and random error.(3)After eliminating environmental factors and random noise,the influence of the real estate industry's technical efficiency decline,low scale efficiency is the main factors of the real estate industry's technical efficiency is not high.(4)the production efficiency ofthe real estate industry of the eastern,central and western regions shows the law of diminishing,and in the western region is lower than the real estate industry efficiency level of central and eastern regions.(5)The real estate industry growth is mainly comes from the technological progress of drive efficiency,technical efficiency improvement's contribution is smaller.Finally,according to the conclusion that the real estate industry production efficiency is not high in China,and considering the current real estate industry's fast investment growth,structural imbalance of supply and demand,fast prices rise,energy conservation and emissions,it puts specific suggestions,for instance,increasing investment in science and technology,reducing the gap in regional economy,adjusting the industrial scale,reducing environmental pollution,stabling investment growth,etc.