Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/99691
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dc.contributorDepartment of Building and Real Estateen_US
dc.creatorLu, Wen_US
dc.creatorShen, Jen_US
dc.date.accessioned2023-07-18T03:14:16Z-
dc.date.available2023-07-18T03:14:16Z-
dc.identifier.issn1911-8066en_US
dc.identifier.urihttp://hdl.handle.net/10397/99691-
dc.language.isoenen_US
dc.publisherMDPI AGen_US
dc.rights© 2022 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https:// creativecommons.org/licenses/by/ 4.0/).en_US
dc.rightsThe following publication Lu, Wanying; Shen, Jianfu (2022). Urban Leverage and Housing Price in China. Journal of Risk and Financial Management, 15(2), 87 is available at https://doi.org/10.3390/jrfm15020087.en_US
dc.subjectCredit supplyen_US
dc.subjectHousing priceen_US
dc.subjectHousing purchase restrictionsen_US
dc.subjectUrban leverageen_US
dc.titleUrban leverage and housing price in Chinaen_US
dc.typeJournal/Magazine Articleen_US
dc.identifier.volume15en_US
dc.identifier.issue2en_US
dc.identifier.doi10.3390/jrfm15020087en_US
dcterms.abstractThis paper examines whether urban leverage, defined by the bank loan-to-deposit ratio in a city, affects housing prices in China. Using a panel dataset of 236 cities and hedonic models, we find a depressing effect of urban leverage on housing price in first-and second-tier cities while leaving third-and fourth-tier cities unaffected. Urban leverage negatively affects housing prices by influencing credit supply. Moreover, the difference-in-differences analysis indicates that purchase restriction policies amplify the depressing effect of urban leverage on housing prices. Overall, we show that urban leverage is an important determinant of housing prices in China.en_US
dcterms.accessRightsopen accessen_US
dcterms.bibliographicCitationJournal of risk and financial management, Feb. 2022, v. 15, no. 2, 87en_US
dcterms.isPartOfJournal of risk and financial managementen_US
dcterms.issued2022-02-
dc.identifier.scopus2-s2.0-85130497861-
dc.identifier.eissn1911-8074en_US
dc.identifier.artn87en_US
dc.description.validate202307 bcwwen_US
dc.description.oaVersion of Recorden_US
dc.identifier.FolderNumbera2284-
dc.identifier.SubFormID47332-
dc.description.fundingSourceOthersen_US
dc.description.fundingTextThe Hong Kong Polytechnic Universityen_US
dc.description.pubStatusPublisheden_US
dc.description.oaCategoryCCen_US
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