Do bank loans and local amenities explain Chinese urban house prices?
Charles Leung () and
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Baozhi Qu: China Merchants Group
No 230, Globalization Institute Working Papers from Federal Reserve Bank of Dallas
Based on Chinese city-level data from 1999 to 2012 and controlling for geological, environmental, and social diversity, this study suggests that credit plays a significant role in driving up house prices after the Great Recession, whereas property prices only influence bank lending before 2008. Local amenities such as higher education, green infrastructure, healthcare, and climate also positively affect house prices. Moreover, the impacts of bank loans on housing prices tend to be related to the level of amenities, suggesting an integrated approach (i.e. combining macroeconomic and urban economic variables) of housing market for the future research.
JEL-codes: G21 O18 R11 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ban, nep-env, nep-tra and nep-ure
Note: Published as: Huang, Daisy J., Charles K. Leung and Baozhi Qu (2015), "Do Bank Loans and Local Amenities Explain Chinese Urban House Prices?" China Economic Review 34: 19-38.
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Journal Article: Do bank loans and local amenities explain Chinese urban house prices? (2015)
Working Paper: Do bank loans and local amenities explain Chinese urban house prices (2015)
Working Paper: Do bank loans and local amenities explain Chinese urban house prices? (2015)
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