IJSSER

Title: THE INFLUENCE OF SHADOW BANKING ON REAL ESTATE PRICES IN CHINA
Authors: Zhuohui Li
\|\| \|\|
Zhuohui Li Nanjing University of Aeronautics and Astronautics, Nanjing, Jiangsu Province, China
MLA 8 Li, Zhuohui. "THE INFLUENCE OF SHADOW BANKING ON REAL ESTATE PRICES IN CHINA." Int. j. of Social Science and Economic Research, vol. 4, no. 12, Dec. 2019, pp. 7410-7421, ijsser.org/more2019.php?id=566. Accessed Dec. 2019. APA Li, Z. (2019, December). THE INFLUENCE OF SHADOW BANKING ON REAL ESTATE PRICES IN CHINA. Int. j. of Social Science and Economic Research, 4(12), 7410-7421. Retrieved from ijsser.org/more2019.php?id=566 Chicago Li, Zhuohui. "THE INFLUENCE OF SHADOW BANKING ON REAL ESTATE PRICES IN CHINA." Int. j. of Social Science and Economic Research 4, no. 12 (December 2019), 7410-7421. Accessed December, 2019. ijsser.org/more2019.php?id=566.
References [1]. Meeks R,Nelson B, Alessandri P. Shadow Banks and Macroeconomic Instability[R].Temi Di Discussione(Working papers), No.939, November 2013. [2]. Ba Shusong.The shadow banking should be objectively evaluated from the perspective of the evolution of financial structure [J] .Economic Survey, 2013,4: p27-30. [3]. Xiao Weiguo, Lan Xiaomei.The Impact of Shadow Banking on China's Money Supply and Traditional Credit--From the Creation of Credit Money to the Central Bank's Upgrade of Macro-prudential Management [J] .Hubei Social Sciences, 2019 (02): 73-84. [4]. Lin Lin Cao Yong Xiao Han. Fragility of the financial system under Chinese-style shadow banking [J] .Economics 2016 (3): 1113-1136. [5]. Lu Shengrong, Guo Xueneng, You Yunxing.Shadow Bank, Credit Resource Mismatch and China's Economic Fluctuations [J] .International Finance Research, 2019 (04): 66-76. [6]. WU Kangping, LU Guihua. General Equilibrium Analysis of the Symbiosis of China's Real Estate Market and Financial Market [J] .Quantitative Economic Technical and Economic Research 2004 (10): 24-32. [7]. Wang Xu, Wang Yongxue, Zhang Xuan.Research on the Interactive Relationship between the Financing Structure of Shadow Bank and Real Estate Enterprise [J] .Exploration of Economic Issues, 2017 (03): 84-91. [8]. Jiang Shichao.An Empirical Test on the Relationship between Shadow Bank Scale and Real Estate Price [J] .Statistics and Decision, 2019,35 (10): 153-156. [9]. Lei Lin.The scale of shadow banking, real estate prices and financial stability [J] .Economic and Management Research, 2018,39 (11): 107-117. [10]. Yin Zhong, Liu Jinquan, Zhang Du. A Test of Non-linear Correlation Mechanism between Financial Stability and Economic Growth in China [J]. Journal of Northeastern University (Social Science), 2017,19 (02): 140-146. [11]. Fang Xianming, Xie Yufei, Authoritative. Spillover Effect of Shadow Bank Scale on Financial Stability [J]. Economist, 2017 (01): 79-87.
Abstract: By building TVP-VAR model, adopting from January 2008 to April 2019 monthly data, this paper analyzes the shadow Banks' influence on real estate prices, and reaches a conclusion as follows: (1) The effect of shadow banking on housing prices is slightly different in different periods, but it has overall positive effect. (2) When the lag period of samples increases, this positive effect tends to weaken, which is also consistent with the current situation that the state gradually attaches importance to strengthening the supervision of shadow banking to maintain financial stability. (3) The expansion of shadow banking is not conducive to financial stability, so it is imperative to strengthen financial regulation.

IJSSER is Member of