期刊名称：International Journal of Strategic Property Management
印刷版ISSN：1648-715X
电子版ISSN：1648-9179
出版年度：2021
卷号：25
期号：2
页码：146-168
DOI：10.3846/ijspm.2021.14199
语种：English
出版社：Vilnius Gedinimas Technical University
摘要：Considering that the real estate industry is a critical industry to promote the economy in China, it is necessary to measure the real estate performance. However, few studies about the performance evaluation of China’s real estate industry have focused on the production process. To fll this gap, this paper proposes a two-stage framework to investigate the real estate productivity of 30 sample provinces on mainland China from 2008 to 2015, based on a common-weight global Malmquist productivity index (MPI). The major fndings are shown as follows: (a) the real estate efciency is low, and it is mainly caused by the inefciency in the sales stage, not the development stage; (b) the development trend of the real estate sector in China is sensitive to the government policies, and the fluctuations of MPI are consistent with the direction of policy adjustment during the observation period; (c) as for the regional analysis of MPI, we introduce the concept of the dependence degree of the economy on the real estate industry and predict that MPI in economically underdeveloped regions may decline in the future. Finally, policy recommendations are provided for the high-quality development of China’s real estate industry.
关键词：real estate industry;China;two-stage;data envelopment analysis;common-weight global Malmquist productivity index
