我国直辖市信贷规模对房地产价格的影响研究

Study on the impact of the credit scale on the real estate price in the municipality directly under the Central Government in China

分析我国4个直辖市1999—2009年的面板数据,运用协整检验及误差修正模型,考察了房地产价格与信贷规模的长期和短期关系。结果表明:第一,直辖市房地产价格与信贷规模存在协整关系,且信贷规模对房地产价格的影响是正向的;第二,短期内信贷规模对房地产价格存在影响,且上期房地产价格的变动对房价有显著影响。

Panel data analysis in 4 municipalities directly under the 1999-2009 years, application of Cointegration and error correction model to examine the relationship between long-term and short-term credit and real estate prices. Results showed that： first, the municipal real estate prices and Cointegration relationship credit, and credit scale effect on real estate prices is positive; second, the credit scale effect on real estate prices in the short term, and prior-period changes in real estate prices have a significant impact on prices.