Long-Run Relationship Between Personal Housing Loan and Economic Growth

Komol Mekvatana and Poomthan Rangkakulnuwat ()
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Komol Mekvatana: Faculty of Economics, Thammasat University, Thailand.
Poomthan Rangkakulnuwat: School of Economics, University of the Thai Chamber of Commerce, Thailand.

Asian Journal of Applied Economics/ Applied Economics Journal, 2017, vol. 24, issue 1, 38-59

Abstract: This research aims to study long-run equilibrium relationship between economic growth and personal housing loans along with macroeconomic variables of Thailand under the concept of Endogenous Growth Theory. The results found long-run equilibrium relationship between real GDP, gross fixed capital formation, internet user, net foreign direct investment, real interest rate, and personal housing loans. The long-run equilibrium relationship is consistent to Endogenous Growth Theory, where gross fixed capital formation, internet user, net foreign direct investment and real estate credits have positive effect to output in the long-run; while real interest rate has negative effect to output in the long-run. That is personal housing loan can be adopted as long-run stimulus policy. Furthermore, the higher in internet access can stimulate economic growth in the long-run.

Keywords: Endogenous Growth; Economic Growth; Real Estate Credits; Long-Run Equilibrium Relationship (search for similar items in EconPapers)
Date: 2017
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