Chinese housing market and bank credit

Masaya Sakuragawa, Satoshi Tobe and Mengyuan Zhou

Journal of Asian Economics, 2021, vol. 76, issue C

Abstract: 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.

Keywords: Housing price; Bank credit; Panel GMM; Chinese economy (search for similar items in EconPapers)
JEL-codes: E5 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1049007821000907
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:asieco:v:76:y:2021:i:c:s1049007821000907

DOI: 10.1016/j.asieco.2021.101361

Access Statistics for this article

Journal of Asian Economics is currently edited by C. Wiemer

More articles in Journal of Asian Economics from Elsevier
Bibliographic data for series maintained by Catherine Liu ().