Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/127062
Authors: 
Huang, Daisy J.
Leung, Charles Ka Yui
Qu, Baozhi
Year of Publication: 
2015
Series/Report no.: 
ISER Discussion Paper, Institute of Social and Economic Research, Osaka University 928
Abstract: 
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.
Subjects: 
endogenous income and endogenous amenities
bank loans and monetary policy
multicollinearity
clustered standard errors
JEL: 
G21
O18
R11
Document Type: 
Working Paper

Files in This Item:
File
Size
399.23 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.