Zhang, Gaiyan; Fung, Hung-gay - In: The Chinese economy 39 (2006) 2, pp. 26-39
This article explores the imbalance between China's booming real estate market and the stock market, which has plunged over four years. Our empirical analysis shows that the two markets are systematically negatively related due to fund flows. (Chin Econ/NIAS-Han)