Real Estate And Stock Market

Real estate and stocks are important assets in China's capital-asset markets.The stable and healthy development of real estate and stock market is very important to the financial system and even the national economy.Studying the cyclicity and interrelationship between real estate and stock markets can not only provide the basis for policy makers to formulate macro-policy,but also provide theoretical support for investors in formulating trading strategies and optimizing portfolio allocation.Therefore,it is very important to study the cyclicity and interrelationship between real estate and stock market.This paper will start from both theoretical and empirical aspects,in six chapters to elaborate the above theme.Chapter one,introduction.This chapter will elaborate on the background and significance of the topic,interpret the research objective and framework of this paper,and make comments on this basis.Chapter two,the theoretical analysis of the correlation between real estate and stock market.This chapter first collates and summarizes the main research results in relevant fields at home and abroad.Then the forming mechanism and influencing factors of market cycle are analyzed.At last,the paper analyzes the research method to be adopted and the research content to be covered.By sorting out the existing theories,this chapter summarizes the existing research results and provides clues and enlightenment for the follow-up writing.The third chapter reviews the development of real estate and stock markets in major countries and analyzes their periods.Taking The United States and Japan as examples,this chapter discusses the development of real estate and stock markets in these two countries.Combined with the historical data,the paper briefly analyzes the periodicity in the assets of the two countries.Chapter four,data and models.The reasons of sample selection and the methods of empirical analysis are expounded.The stationarity and co-integration tests are carried out on the data to prepare for the empirical analysis in Chapter five.Chapter five is an empirical analysis of the periodicity and correlation between real estate and stock markets.By comparing the mechanism of asset price interaction,the paper studies the periodicity and correlation between real estate market and stock market.Chapter six,conclusion and prospect.This chapter summarizes the whole paper,reviews the research content and expounds the practical significance,and makes a prospect for the future research on the content not discussed in this paper.