| 1998since China adopted the reform of the real estate market, realestate has also been considerable development, and to enhance the nationaleconomy plays an important role in promoting. Mengjin house pricegrowth in the country, while in Zhengzhou City, the capital city as animportant central region, the real estate market has been developing rapidly,in addition, led to the rapid development of many related industries, for thesocial and economic development have made outstanding contributions.As a capital-intensive industry, real estate funding sources largely due tothe strong support of bank credit; however, when the financial support maylead to excessive prices continued to rise over the purchase of the residents,and may eventually lead to real estate bubble.Many studies show that financial support for the development of thereal estate market and bank credit has a close relationship. Based on this,the use of Zhengzhou City in2003a2012quarterly data on the relationshipbetween bank credit and real estate price fluctuations between theempirical analysis. The empirical results show that there is cointegrationbank credit and real estate prices, there is a long-term equilibrium betweenthe two, and bank credit is Granger cause the real estate price fluctuations.It can draw the following conclusions: the scale of the expansion of bankcredit will boost real estate prices, on the contrary, is not. Therefore, inorder to control the prices within reasonable limits, to maintain the healthy development of real estate in Zhengzhou City, the paper puts forward somesuggestions: optimizing the industrial structure of the real estate industry;reasonable adjustments to real estate credit structure; improve financing, toincrease financing channels, to promote the real estate industry healthydevelopment; strengthen credit monitoring, appropriate to relax financingconstraints. |
