Articles:
The Population Migration in
Taiwan, and its Causal Relationship with Labor Market and Housing Market
Authors: Li-Min Hsueh, Chung-Wen Li, Hsi-Peng
Tseng
Start Page: 61
End Page: 90
Volume:5
Issue Number: 1
Year: 2002
Publication: International Real Estate Review
Abstract: This study sets
out to empirically examine the interrelationship existing between the
labor market, the housing market and domestic interregional migration in
Taiwan, with four of the most urbanized population receiving areas, Taipei
City, Taipei County, Taichung City and Kaohsiung City, being selected for
the study.
An error correction model is constructed for each city/county using time
series data covering the period from 1974 to 1999, from which the research
results show that each city/county has its own unique relational pattern
between population migration, the labor market and the housing market,
reflecting their different characteristics and developmental stages.
In Taipei City, the capital city of Taiwan, housing prices are much
higher, although this has not been affected by migration or the labor
market, since it is instead exogenously determined. In Taipei County, on
the other hand, which is part of the Taipei metropolitan area and the
major population migration destination, a close interaction exists between
housing prices and population migration. As a latecomer in urban
development, the relatively better organized city planning in Taichung
City was reflected in all variables as being affected by the exogenous
variable, local government expenditure. Although the industrialized city
of Kaohsiung is faced with the growing problem of a loss of jobs, along
with a housing market recession in recent years, the city?s net population
migration has thus far been unaffected.
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