Aussie-Sino Studies

2017, (3) P29-P34

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A Study on the Commercial House Price In China: in Terms of Money Supply and Lending Interest Rate

He Yugang & Eun-Mo Lee

摘要(Abstract):

This paper uses the data-set from 2000 to 2016 to analyze the commercial house price from the aspects of money supply and lending interest rate in China. Via establishing the vector error correction model (VECM), an empirical analysis was conducted to reveal the effects of money supply and lending interest rate on the commercial house price. Through the empirical analysis, conclusions that are come into are that the money supply has a significant effect on the commercial house price; The effect of the lending interest on the commercial house price is not significant in the short run. However, in the long run, an increase in the money supply will result in an increase in the commercial house price. Conversely, an increase in the lending interest rate will lead to a decrease in the commercial house price in terms of the commercial house demand.

关键词(KeyWords): Money Supply, Commercial House Price, Lending Interest Rate, VECM

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作者(Author): He Yugang & Eun-Mo Lee

Email: 1293647581@jbnu.ac.kr; Lem4248@jbnu.ac.kr

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