Housing Price Appreciation and Economic Integration in a Transition Economy

61 Pages Posted: 16 Mar 2018 Last revised: 10 Jul 2018

See all articles by Galina A. An

Galina A. An

Kenyon College - Department of Economics

Charles Becker

Duke University - Department of Economics

Enoch Cheng

University of Colorado at Denver - Department of Economics

Date Written: March 13, 2018

Abstract

This paper explores patterns of real estate price movements in an emerging upper-middle income economy, Kazakhstan. The country experienced an explosive, 11-fold increase in real housing prices in urban areas between 2000 and 2007, followed by a sharp decline and stabilization. This paper traces the movements across different regions, types of housing, unit size categories, and neighborhood types. We find that prices moved together fairly closely, implying a linked if not unified housing market, along with wealth effects that were felt broadly throughout the (urban) economy. 

Suggested Citation

An, Galina A. and Becker, Charles Maxwell and Cheng, Enoch, Housing Price Appreciation and Economic Integration in a Transition Economy (March 13, 2018). Economic Research Initiatives at Duke (ERID) Working Paper No. 265, Available at SSRN: https://ssrn.com/abstract=3141406 or http://dx.doi.org/10.2139/ssrn.3141406

Galina A. An

Kenyon College - Department of Economics ( email )

Gambier, OH 43022
United States

Charles Maxwell Becker (Contact Author)

Duke University - Department of Economics ( email )

213 Social Sciences Building
Box 90097
Durham, NC 27708-0204
United States

Enoch Cheng

University of Colorado at Denver - Department of Economics ( email )

Campus Box 181
P.O. Box 173364
Denver, CO 80217-3364
United States

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
39
Abstract Views
366
PlumX Metrics