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Property prices and bank lending in China [An article from: Journal of Asian Economics]
Book Details
Author(s)
Q. Liang, H. Cao
Publisher
Elsevier
ISBN / ASIN
B000PDTW60
ISBN-13
978B000PDTW64
Availability
Available for download now
Sales Rank
#12,193,012
Marketplace
United States 🇺🇸
Description
This digital document is a journal article from Journal of Asian Economics, published by Elsevier in 2007. The article is delivered in HTML format and is available in your Amazon.com Media Library immediately after purchase. You can view it with any web browser.
Description:
This paper investigates the relationship between property prices and bank lending for the case of China over the period 1999Q1-2006Q2. Under a high dimensional autoregressive distributed lag (ARDL) framework with gross domestic product (GDP) and interest rate also being taken into account, we find that there exists unidirectional causality running from bank lending to property prices, and that the causality runs interactively through the error correction term from bank lending, GDP and interest rate to property prices. Our findings have important policy implications.
Description:
This paper investigates the relationship between property prices and bank lending for the case of China over the period 1999Q1-2006Q2. Under a high dimensional autoregressive distributed lag (ARDL) framework with gross domestic product (GDP) and interest rate also being taken into account, we find that there exists unidirectional causality running from bank lending to property prices, and that the causality runs interactively through the error correction term from bank lending, GDP and interest rate to property prices. Our findings have important policy implications.
