Introduction:
The collapse of the real estate market is often the deciding element in economic crises (Li & Chen, 2015; Stiglitz et al., 2009). As of 2017 (Zhao, Zhan, Jiang, & Pan). While several studies have addressed the connection between economic uncertainty and real estate market volatility, very few have focused on the housing market specifically (representing the real estate market). As early as the 17th century, there was evidence. Using the Vector Auto, among other qualitative and quantitative tools. The study used a vector autoregressive (VAR) model, and the findings show some interesting deviations from previous research, such as: (1) The real estate market positively affects economic growth in Vietnam, especially in the second quarter lag and the fourth quarter lag, and then its trend affects negatively.
Economic growth increases state capacity and the supply of public goods:
When economies expand, governments have more tax income to invest in infrastructure, education, and other essential public services. Gains from inclusive growth are more extensive than those from the state. A portion of the wealth created by growth ultimately benefits the well-being of employers and their staff members. People are able to escape poverty and enhance their living standards when their salaries rise and their discretionary spending increases. We don’t want to give the impression that we don’t support economic growth, despite our argument that it should be a means rather than an end to progress. Most countries that have succeeded in decreasing poverty and expanding access to public goods have done so as a result of rapid economic expansion.
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An important factor in economic expansion is politics:
The ESID framework is predicated on the idea that the form of a country’s political settlement determines the pace and direction of economic growth. It raises the question of whether or not these advantages are concentrated within a select few, or are shared by all members of society. Do those who benefit shift with the political climate, or do they remain stable throughout time? It is difficult to fathom the origins and sustainability of growth in a country without first considering its political structure. We found two examples in the literature: Malaysia and Thailand. From the 1970s through the 1990s, these two countries’ economies grew at the quickest rate, but they slowed after the East Asian financial crisis. From a purely economic point of view, one might have anticipated the return of robust growth after the shock. Actually, it didn’t because the local political settlement inhibited participation in growth-promoting activities by a broader range of individuals.
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Deals are as important as rules:
The question of whether or not just individuals with ties to government conduct deals involving investment opportunities and government contracts is significant. Various forms of construction necessitate varying contract structures. If business transactions are regulated and trusted, rapid development can occur even in the absence of robust institutions. Deals that are open and inclusive are just as crucial as those that are ordered. These are the kinds of arrangements that may be made by a large number of people, allowing many different businesses and investors to take part in the creation of something new. As a result, negotiations need to shift from being closed to open, allowing a wider range of investors to take part rather than simply the friends and cronies of politicians. At this point, structural change and persistent, broad-based economic expansion become visible.
Growth that benefits all segments of the population accelerates the process of structural change:
When transactions are transparent and the fruits of growth are shared equally, we observe this structural shift more frequently. For a transformation to occur, it is necessary for various capitalists to collaborate in order to exploit new areas and put labor to use on novel products. The completion of negotiations makes it unlikely that the situation can undergo a radical change. real estate seo The benefits of economic growth are not necessarily permanent, but they can be made more so through structural change. Investments in infrastructure and human resources have been shown to have a positive effect on capital productivity. Rather than specializing on labor-intensive low-value industries, economies are shifting their focus to the production of higher-value goods and services.
This is how nations have traditionally made progress and ultimately conquered poverty. By introducing new and improved forms of employment, transformation alters a nation’s path to greater production. As a result, businesses no longer require the same level of government handholding that they had in the past, and they are also more commercially self-sufficient.
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Where does the growth agenda go from here?
In recent years, sustainability and the need for focused expansion in low polluting, green sectors have been central to any debate about economic growth. Because of this, some industries may actually experience a decline when more environmentally friendly alternatives are favored, such as the fossil fuel industry. Should potential producers who own unmined or undeveloped deposits begin using those resources? Or should they try to leapfrog the competition and migrate to a post-fossil fuel energy system? These are the kinds of fundamental issues that will continue to frame debates about economic growth for decades to come.
Conclusion:
The purpose of this article is to examine the function that housing price plays in land finance and economic growth. In summary, the paper places housing price inside the same framework as land finance and economic growth. The hypothesis states that urban land finance will be beneficial to economic growth, and that the influence of land finance on economic growth will be mediated by changes in housing prices. The panel data of prefecture-level and above cities from 2011 to 2019 are also used to construct a mediating
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effect model, and the stepwise regression method and the Bootstrap method are used to empirically test the effects of land finance on economy. [Citation needed] [Citation needed] [Citation needed] [Citation needed] [Citation needed] [Citation needed] [Cit It is of the utmost importance to make intelligent use of land financing in order to foster economic development and to devise a plan for the real estate market that takes “city specific policies” into consideration.
