REAL ESTATE SECTOR AND ECONOMIC GROWTH-A Study of theimpact ofHousing Investmenton Economic Growth in Cameroon.pdf

1、Having a shelter is one of the most fundamental requirements for human survival. It provides privacy and protection from danger. It has been proposed deriving from both experience and theoretical learning that housing in

2、vestment contributes directly and indirectly，through backward and forward linkages in the economy，to national economic growth and，to a large extent，to national capital stock (UNCHS/ILO，1995).
　　In most countries of th

3、e Sub Saharan African (SSA) region，housing sectors are still under-developed and timeworn. For the case of Cameroon，the housing sector is facing a chronic shortage. Studies reveal that the demand of housing increases by

4、10％ per year. This paper is pointing out the necessity of conducting researches on housing investment i n Cameroon and its effect on the economic growth. Our study will be done via a dynamic econometric time series model

5、ing from over two decades of period span，starting from 1985 to 2013. Our conclusions will unable policy makers to take decision and also he lp them to make adjustment to the housing policy in Cameroon in relation to econ

6、omic neeD.We use some econometric procedure such as testing for the unit root by the means of using ADF test，Johansen cointegration test，and then apply the VECM estimation method to understand the dynamics in housing inv

7、estments，growth and labor force in Cameroon. The empirical results have shown that the contribution of residential investment to GDP is significant in the country of Cameroon and there is a positive associati on-ship amo

8、ng the variables. The results from the VECM test indicate the existence of Long-Run relationship between GDP，labor force and investment in residential estates. In the other hand，short-run，investment in residential estate

9、 individually cannot influence growth. Besides，after conducting a post estimation test，we can conclude that there exists a short-run causality running from lagged domestic product gross，residential investment and labor f

10、orce jointly.
　　Therefore，government should encourage investment in residential estate. promote measures that will mobilize long-term and affordable funding for the housing sector;mobilize savings，credit and private-s