Liu, X X; Liu, H H; Yang, G L and Pan, J F (2023) Productivity assessment of the real estate industry in China: A dea-malmquist index. Engineering, Construction and Architectural Management, 30(3), pp. 1243-1270. ISSN 0969-9988
Abstract
Purpose: The high-quality development of the real estate industry is crucial to the transformation of China's economy. However, few studies apply the productivity to explore the development path of the real estate industry in China. To fill this gap, this study mainly investigates the total factor productivity (TFP) of the real estate industry of 30 sample provinces in mainland China from 2007 to 2016. Design/methodology/approach: The Malmquist index is applied to estimate the productivity (i.e. TFP) of the real estate industry, based on the data envelopment analysis (DEA). Then, the truncated tobit regression analysis explores the external influencing factors on the TFP of the real estate industry. Findings: Through empirical analysis, it is found that the high-quality development of the real estate industry depends on the technological innovation by the real estate enterprises and the targeted policies by the provincial government. Moreover, the development of the real estate industry has a positive correlation with the growth of China's economy but a negative correlation with the development of other industries. Practical implications: TFP mainly reveals the development status of the provincial real estate industry and identifies the driving force for exploring the high-quality development mode of the real estate sector. Furthermore, the fluctuation rule of TFP can be applied to predict the development trend of the real estate industry in the future. Originality/value: As an application, this study measures the TFP of the Chinese real estate industry in different provinces and periods. The results have meaningful policy implications for policymakers regulating the real estate industry.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | Chinese real estate industry; data envelopment analysis; dea-malmquist index; regression analysis |
| Index terms: | transformation, productivity, influencing factor, regression analysis, policy implication, data envelopment analysis, estimate, technological innovation, real estate, total factor productivity, China, methodology |
| Subjects: | statistical analysis, research methods, management, Geography, real estate economics, financial and cost management, data analysis and analytics, innovation and technology management, policy studies, business, risk assessment, production economics |
| Topics: | Governance, Risk Management, Geographical Context, Research Practice, Engineering Principles, Business Strategy, Cost Management, Urban Studies |
| Descriptive scope: | 4 PCTA |
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