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The Relationship between Macroeconomic Variables and Housing Prices in Saudi Arabia Using Vector Auto-Regression Analysis

المصدر: مجلة ريحان للنشر العلمي
الناشر: مركز فكر للدراسات والتطوير
المؤلف الرئيسي: Ahmed, Dirar Elmahi Elobeid (Author)
مؤلفين آخرين: Mohammed, Khaled Abdul Aziz Hassan (Co-Author)
المجلد/العدد: ع20
محكمة: نعم
الدولة: سوريا
التاريخ الميلادي: 2022
الشهر: فبراير
الصفحات: 18 - 42
ISSN: 2709-2097
رقم MD: 1239618
نوع المحتوى: بحوث ومقالات
اللغة: الإنجليزية
قواعد المعلومات: EduSearch, HumanIndex
مواضيع:
كلمات المؤلف المفتاحية:
HPI | CPI | GDP | Real Estate | Unemployment | VAR
رابط المحتوى:
صورة الغلاف QR قانون

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LEADER 02656nam a2200241 4500
001 1989026
041 |a eng 
044 |b سوريا 
100 |9 662173  |a Ahmed, Dirar Elmahi Elobeid   |e Author 
245 |a The Relationship between Macroeconomic Variables and Housing Prices in Saudi Arabia Using Vector Auto-Regression Analysis 
260 |b مركز فكر للدراسات والتطوير  |c 2022  |g فبراير 
300 |a 18 - 42 
336 |a بحوث ومقالات  |b Article 
520 |b This paper examined how housing prices were determined by some macroeconomic factors in Saudi Arabia. Variables used are Gross Domestic Product Per capita (GDPP), Consumer Prices Index (CPI), and Unemployment Rate (UNEMP). Quarterly data for a period (2014q1– 2019q4) were collected from publications of Saudi Arabian Monetary Authority (SAMA). The paper followed a descriptive analytical method in which Vector Auto-Regression Analysis (VAR) is employed to capture the dynamic effect of the variables on housing prices. Granger Causality, Variance Decomposition and Impulse response function were also used. The results showed that housing prices were insignificantly and positively related to GDPP, whereas it was negatively related to both (CPI& UNEMP). Only CPI had a significant relationship. The three variables, jointly, had Granger causality on HPI. Variance decompositions reflected that CPI was the variable with the highest explanatory power over the variation of housing prices, followed by GDPP and the UNEMP respectively indicating that CPI was the most influential determinants for housing prices. The findings suggested that Saudi authorities need to pay close attention to the effect of CPI on housing investment, and in view of the relatively large share of that sector, on overall growth. Finally, the paper expects that the results would provide awareness into the relation between housing investment and macroeconomic indicators in other developing countries. 
653 |a الاقتصاد الكلي  |a الاستثمار العقاري  |a المتغيرات الاقتصادية  |a السعودية 
692 |b HPI  |b CPI  |b GDP  |b Real Estate  |b Unemployment  |b VAR 
700 |9 662180  |a Mohammed, Khaled Abdul Aziz Hassan   |e Co-Author 
773 |4 العلوم الاجتماعية ، متعددة التخصصات  |6 Social Sciences, Interdisciplinary  |c 002  |e Rihan Journal for Scientific Publishing  |f Mağallaẗ Rīḥān li-l-našr al-ʿilmī  |l 020  |m ع20  |o 2189  |s مجلة ريحان للنشر العلمي  |v 000  |x 2709-2097 
856 |u 2189-000-020-002.pdf 
930 |d y  |p y  |q n 
995 |a EduSearch 
995 |a HumanIndex 
999 |c 1239618  |d 1239618