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Housing Speculation and Investment in Children’s Education: Evidence from House Purchase Restrictions in China

Geng Niu et al.

Journal of Financial and Quantitative Analysis2026https://doi.org/10.1017/s0022109026102713article
FT50AJG 4ABDC A*
Weight
0.50

What the paper says

Housing and human capital represent two major forms of household wealth. This article investigates the potential for housing speculation to crowd out household investment in children’s education, an endeavor that only pays off in the long run. To address endogeneity concerns, we exploit the unintended spillover effect of staggered house purchase restrictions (HPR) in China. Using a difference-in-differences approach, we find that HPR reduce educational investment of households in nearby unregulated cities. We also provide evidence consistent with a housing speculation channel. These findings shed new light on the socioeconomic consequences of housing market booms.

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https://doi.org/https://doi.org/10.1017/s0022109026102713

Or copy a formatted citation

@article{geng2026,
  title        = {{Housing Speculation and Investment in Children’s Education: Evidence from House Purchase Restrictions in China}},
  author       = {Geng Niu et al.},
  journal      = {Journal of Financial and Quantitative Analysis},
  year         = {2026},
  doi          = {https://doi.org/https://doi.org/10.1017/s0022109026102713},
}

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Housing Speculation and Investment in Children’s Education: Evidence from House Purchase Restrictions in China

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Evidence weight

0.50

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.50 × 0.4 = 0.20
M · momentum0.50 × 0.15 = 0.07
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.