中国房地产金融风险分析——一种基于制度经济学与信息经济学的解释

Analysis of Financial Risk in China's Real Estate——Based on the Interpretation of System and Information Economics

本文运用制度经济学和信息经济学的有关理论对房地产过度开发带来的一系列问题进行了分析,认为,对市场进行人为的行政分割所引起的区域性房地产开发的负外部性以及金融机构信贷的信息不对称性是引发房地产过度开发、房价上涨、金融机构信贷资金增加和中国人民银行宏观调控失效的主要原因。要想改变这种状况,中央政府在出台具体措施的同时,更应从制度上建立一个开放、流通、高效的市场。

According to theories of system and information economics this paper analyzes the problems that real estate has brought because of its excessive development and thinks that man - made administrative division and asymmetry credit information from financial organizations are the reasons for excessive development of real estate, higher house price, credit increase and the disabled macro regulation of the People Bank of China. To improve this situation the central government should set up an open,flowing and high -effective market according to system.