摘要
文章选取健康水平、教育水平、生活水平和社会环境水平等4个方面的指标,采用层次聚类分析法将我国31个省市自治区划分为3类不同的区域,并选取1999～2009年全国和不同区域的年度数据建立有效的面板数据模型,探讨货币政策对房地产价格影响的区域差异效应。结果表明,货币政策对各区域房地产价格的影响存在显著差异。表现为高度发达地区的房地产价格不受货币政策的影响;发达地区贷款利率对房地产价格存在显著影响;信贷规模和存款准备金率对欠发达地区的房地产价格的影响显著。
The paper studies the impact of monetary policy on real estate prices of different regional differences based on the indicators of health,education,standard of living and social environment,using hierarchical cluster analysis to divide China’s 31 provinces,municipalities and autonomous regions into three different regions and selecting the annual data from 1999 to 2009 of the country and different regions to build the panel data model.The results show that there are significant differences among the effect of monetary policy on the regional real estate prices;real estate price of the highly developed areas is out of control of monetary policy,and the loan interest rate has significant effects on the real estate price of the developed areas,while the size of credit and deposit reserve ratio has significant effects on real estate prices of less developed regions.
出处
《大连理工大学学报（社会科学版）》
CSSCI
2013年第3期8-13,共6页
Journal of Dalian University of Technology(Social Sciences)
基金
国家自然科学基金项目:"外部治理环境
利益相关者声誉与上市公司盈余管理"(71172136)
教育部社会科学研究青年基金项目:"机构投资者异质与创业板公司投资效率研究"(2012YJC630173)
中国博士后基金特别资助项目:"行为视角下机构投资者异质与创业板公司风险承担研究"(2012T50251)
中央高校基本科研业务费专项资金资助项目:"行为视角下机构投资者异质对公司价值的影响机制研究"(DUT13RW424)
关键词
货币政策
房地产价格
区域差异
聚类分析
面板数据模型
monetary policy
real estate prices
regional differences
cluster analysis
panel model
