Dr Qin Xiao Q.Xiao@hull.ac.uk
Senior Lecturer in Finance
Equilibrating ripple effect, disturbing information cascade effect and regional disparity – A perspective from China's tiered housing markets
Xiao, Qin
Authors
Abstract
The current study investigates the role of the tier-one cities of China in affecting regional disparities within and across its five mega-city clusters, through the lens of housing market. For that purpose, an equilibrating ripple effect is differentiated from a disturbing information cascade effect. Evidence suggests that a modest slow-moving equilibrating force originated from Hong Kong has flowed across all tier-one and most tier-two cities in the mainland, indicating a narrowing of regional inequalities between Hong Kong and the mainland cities. On the other hand, a powerful disturbing force emanated from Beijing has affected all other cities, widening the inequality gap in between. The impulse response functions further suggest that this disturbing force has a permanent impact on regional disparity.
Citation
Xiao, Q. (2023). Equilibrating ripple effect, disturbing information cascade effect and regional disparity – A perspective from China's tiered housing markets. International journal of finance & economics : IJFE, 28(1), 858-875. https://doi.org/10.1002/ijfe.2453
Journal Article Type | Article |
---|---|
Acceptance Date | Dec 20, 2020 |
Online Publication Date | Jan 3, 2021 |
Publication Date | Jan 1, 2023 |
Deposit Date | Jan 4, 2021 |
Publicly Available Date | Jan 4, 2023 |
Journal | International Journal of Finance and Economics |
Print ISSN | 1076-9307 |
Electronic ISSN | 1099-1158 |
Publisher | Wiley |
Peer Reviewed | Peer Reviewed |
Volume | 28 |
Issue | 1 |
Pages | 858-875 |
DOI | https://doi.org/10.1002/ijfe.2453 |
Keywords | City house price; Economic geography; Information cascade effect; Regional disparity; Ripple effect |
Public URL | https://hull-repository.worktribe.com/output/3686889 |
Publisher URL | https://onlinelibrary.wiley.com/doi/10.1002/ijfe.2453 |
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©2020 The author. All rights reserved. No part of this publication may be reproduced without the written permission of the copyright holder
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