Finance & Economics of Xinjiang ›› 2017, Issue (1): 40-49.doi: 10.16716/j.cnki.65-1030/f.2017.01.005

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Research on the Contributions of Real Estate Industry to Economic Growth in Xinjiang

Zhang Li, Zhai Guangliang   

  1. Xinjiang University of Finance and Economics, Urumqi 830012, China
  • Received:2016-12-30 Online:2017-02-25 Published:2020-11-23

Abstract: According to the existing literature,According to the existing literature, this paper divides the contribution of the real estate industry to economic growth into direct and indirect one. Based on this, the paper uses growth method to measure the direct contribution to economic growth in the real estate industry in Xinjiang from 2005 to 2014 and the rate is 3.67%.And then, the input-output table of Xinjiang in 2002, 2007 and 2012 is used to calculate the driving effect of the real estate industry in Xinjiang on the other 41 industries to correct the real estate directly the contribution rate of economic growth, therefore, the indirect contribution rate of the Xinjiang real estate industry to the economic growth from 2006 to 2014 is got and the rate is 5.91%.Finally, according to the rate of the direct contribution and the indirect contribution rate, the total contribution rate to the economic growth of the real estate industry in Xinjiang from 2006 to 2014, is estimated, and the rate is 9.59%,and it is analyzed with other four northwest provinces in China. Finally, the VAR model is used to analyze empirically the relationship between contribution rate of Xinjiang real estate industry and GDP.The results show that the GDP growth in Xinjiang significantly promotes growth of the amount of investment,sales and production of real estate in Xinjiang, however, amount, their promotion influence is small on the GDP growth in Xjiang,but statistically significant.Therefore, it is of necessity to speed up the pace of urban construction in Xinjiang, attach great importance to the healthy and orderly development of real estate and coordinated ahd healthy development between the real estate industry and other related industries to give full play to the driving role of the real estate industry to economic development in Xinjiang to promote the healthy and stable development of national economy.

Key words: Real Estate Industry, Economic Growth, Contribution Rate

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