Chinese housing market and bank credit

Masaya Sakuragawa, Satoshi Tobe, Mengyuan Zhou

研究成果: Article査読

抄録

This paper presents an empirical analysis of the determinants of housing prices using the province-level panel data that covers all the regions in China for the period 1999–2015. The bank credit is the primary determinant of housing prices. Remarkably, a one-percentage-point increase in the growth of bank credit leads to a subsequent appreciation in the growth of the housing price by 0.281 %. The sensitivity of bank credit varies across subcategories of buildings, and between the province-level analysis and the city-level analysis.

本文言語English
論文番号101361
ジャーナルJournal of Asian Economics
76
DOI
出版ステータスPublished - 2021 10

ASJC Scopus subject areas

  • 財務
  • 経済学、計量経済学

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