2017 Real Estate Conference
Morning Academic Session Paper Presentation:
Dr. Lie Xue, Lecturer, Capital University of Economics and Business
Title: Financial Development and Housing Price Changes under the Condition of Financial Control: Evidence from China
The aim of this paper has been to investigate the contribution of financial development to changes in house prices in China. This paper studies the inner connection between financial development and housing prices. Empirical results show that: first, in the long term, financial development contributes significantly to housing prices in both strong and weak financial control regions. And the impact is greater in strong financial control region. In the short term, the impact of financial development on housing prices is also positive, but the regional difference is small. Second, whether in long or short term, influence of residents’ disposable income on housing prices in weak financial control area is stronger than that in strong financial control areas. Third, policy regulation to curb housing price does not exert the expected price suppression effect, but instead boosted its rise.
Li Xue is the lecturer of school of finance of Capital University of Economics and Business. Her research direction is macro finance, financial development and monetary policy. Her works have been published in Economic Science Journal, Financial Regulation Journal and Economic Review Journal.