한국과 일본 부동산시장에서의 수도권과 비수도권의 관계비교

초록

This paper compares and analyzes the relationship between the capital and the non-capital areas in the housing markets of Korea and Japan. The findings of this paper are as follows. First, the housing price indexes in the Seoul metropolitan and the rest area in Korea are not cointegrated with each other, and so their relationships are not stable. In Japan, however, the indexes are closely integrated with each other when they have unit roots, and they have mutually forecasting powers in terms of Granger- Causality when they do not have unit roots, thus showing stable relationship. Second, the cointegration relationship between the mansion price indexes of three cities and nine regions respectively in Japan is stronger than that between the apartment indexes of eight cities and ten regions in Korea, showing a strong contrast in terms of stability. These findings suggest that Japanese housing market is ahead of Korean market in terms of balanced regional development.

키워드