Mối quan hệ giữa chính sách tín dụng và thị trường bất động sản
DOI:
https://doi.org/10.24311/jabes/2016.27.9.1351Keywords:
Credit policy, Panel VAR, Real estate market, Real estate creditAbstract
A close correlation, revealed by the studies of Hutchison and McDill (1999) and Hilbers et al. (2001), exists between credit policy and real estate market in developed and developing economies during past decades. In terms of the Vietnam’s market, to examine this relation this study employs panel VAR model for the 2009–2015 dataset with a particular focus on orthogonal impulse response function (OIRF). The results demonstrate existence of multidimensional relations among bank credit, a proxy for credit policy, real estate market, and economic operations. Additionally, the linkage between credit policy and real estate market is found to be a supportive one, in which an increase in this market can make the other change in the same way.
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