The dynamic effect of macroeconomic factors on housing prices: Evidence from South Africa
| dc.contributor.advisor | Ndlovu, Godfrey | |
| dc.contributor.author | Lekhuleni, Thami Innocent | |
| dc.date.accessioned | 2022-03-04T07:31:19Z | |
| dc.date.available | 2022-03-04T07:31:19Z | |
| dc.date.issued | 2021 | |
| dc.date.updated | 2022-03-02T08:40:57Z | |
| dc.description.abstract | This study examines the dynamic short- and long-run causal relationship between South African real house prices and macroeconomic fundamentals (gross domestic product, mortgage rate, exchange rate-USDZAR, affordability, household debt to disposable income, unemployment rate, share prices (JSE ALL share index), foreign direct investment, and producer price index) over the 2000Q1-2019Q4 period. The study utilizes a vector error correction model (VECM) to estimate the short- and long-run causal relationships while accounting for endogeneity and reverse causality. The results suggest the existence of a significant short-run and long-run association between house prices and macroeconomic fundamental variables under review. More specifically, the empirical results presented reveal that the gross domestic product and producer price index had the most impact on house prices compared to all other variables. Furthermore, any disequilibrium of house prices from its fundamental determinants in the short-run always self-corrects in the long run. | |
| dc.identifier.apacitation | Lekhuleni, T. I. (2021). <i>The dynamic effect of macroeconomic factors on housing prices: Evidence from South Africa</i>. (). ,Faculty of Commerce ,School of Economics. Retrieved from http://hdl.handle.net/11427/35892 | en_ZA |
| dc.identifier.chicagocitation | Lekhuleni, Thami Innocent. <i>"The dynamic effect of macroeconomic factors on housing prices: Evidence from South Africa."</i> ., ,Faculty of Commerce ,School of Economics, 2021. http://hdl.handle.net/11427/35892 | en_ZA |
| dc.identifier.citation | Lekhuleni, T.I. 2021. The dynamic effect of macroeconomic factors on housing prices: Evidence from South Africa. . ,Faculty of Commerce ,School of Economics. http://hdl.handle.net/11427/35892 | en_ZA |
| dc.identifier.ris | TY - Master Thesis AU - Lekhuleni, Thami Innocent AB - This study examines the dynamic short- and long-run causal relationship between South African real house prices and macroeconomic fundamentals (gross domestic product, mortgage rate, exchange rate-USDZAR, affordability, household debt to disposable income, unemployment rate, share prices (JSE ALL share index), foreign direct investment, and producer price index) over the 2000Q1-2019Q4 period. The study utilizes a vector error correction model (VECM) to estimate the short- and long-run causal relationships while accounting for endogeneity and reverse causality. The results suggest the existence of a significant short-run and long-run association between house prices and macroeconomic fundamental variables under review. More specifically, the empirical results presented reveal that the gross domestic product and producer price index had the most impact on house prices compared to all other variables. Furthermore, any disequilibrium of house prices from its fundamental determinants in the short-run always self-corrects in the long run. DA - 2021_ DB - OpenUCT DP - University of Cape Town KW - Economics LK - https://open.uct.ac.za PY - 2021 T1 - The dynamic effect of macroeconomic factors on housing prices: Evidence from South Africa TI - The dynamic effect of macroeconomic factors on housing prices: Evidence from South Africa UR - http://hdl.handle.net/11427/35892 ER - | en_ZA |
| dc.identifier.uri | http://hdl.handle.net/11427/35892 | |
| dc.identifier.vancouvercitation | Lekhuleni TI. The dynamic effect of macroeconomic factors on housing prices: Evidence from South Africa. []. ,Faculty of Commerce ,School of Economics, 2021 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/35892 | en_ZA |
| dc.language.rfc3066 | eng | |
| dc.publisher.department | School of Economics | |
| dc.publisher.faculty | Faculty of Commerce | |
| dc.subject | Economics | |
| dc.title | The dynamic effect of macroeconomic factors on housing prices: Evidence from South Africa | |
| dc.type | Master Thesis | |
| dc.type.qualificationlevel | Masters | |
| dc.type.qualificationlevel | MCom |