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- W2221377028 abstract "The Chinese economy has grown at an average annual rate of 9.5 percent since 1978, when the country began transitioning from a centrally-planned economy to a market-oriented one. One important contributor to growth has been the real estate sector. As Chart 1 shows, real estate investment has grown at an average annual rate of 20.2 percent since the 1998 housing reform, about twice as high as overall GDP growth.1 Prior to the reform, most urban Chinese households lived in condos provided by the government, whereas households had to purchase their own residences after 1998. As a result, real estate investment increased steadily from about 4 percent of GDP in 1998 to about 15 percent of GDP in 2013 (Chart 2)." @default.
- W2221377028 created "2016-06-24" @default.
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- W2221377028 date "2014-01-01" @default.
- W2221377028 modified "2023-09-24" @default.
- W2221377028 title "China’s slowing housing market and GDP growth." @default.
- W2221377028 hasPublicationYear "2014" @default.
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