国际资本流动对我国房地产价格的影响分析

房地产业作为我国经济新的增长点，已经成为我国第二大支柱产业，同时也是仅次于制造业的第二大吸收外资产业。随着我国经济的快速发展，外汇储备的日益增加，人民币国际化步伐的加快，大量游资不断涌进我国资本市场，势必对我国房地产业造成一定冲击。我们通过建立协整和误差修正模型以及向量自回归模型，详细分析了国际资本流动对我国房地产价格的影响，并测算出了房地产市场对FDI和热钱的吸引程度。

The Analysis on Response of Real Estate Price to International Capital Flow

The real estate industry as a new growth point of China's economy has not only become China's second largest pillar industry,but also is the second largest industry after manufacturing industry,which attracts foreign investment.With the rapid economic development of China and increasing accumulation of foreign exchange reserves,accelerating the pace of internationalization of the RMB,a large number of floating capital gets into the capital market of China,which is bound to cause some impact on China's real ...