Study On The Effect Of Financial Policy On First Hand Real Estate Market Of Chang Chun

With the continuous development of China's real estate market,the effect of financial policy regulation is enhancing,the use of financial policy tools,such as money,credit,interest rate,exchange rate,etc.is increasing.The development of China's real estate market is imbalanced from region to region,the house price and demand in major cities are high,whereas the house price in subordinate cities is low and structural surplus appears.The first hand house market in Changchun City is mainly based on rigid demand,but the contradiction of high housing vacancy rate of first hand commercial house and housing shortage also exists.The real estate industry has the attributes of information asymmetry and quasi-public goods,these features determined that the real estate market is imperfect competition and competitive monopoly market.In order to have a healthy and orderly development of the commercial housing market,we must use the government,the "visible hand" to macro control the real estate market,to make up its inadequate in self-development.This paper systematically analyzes the current situation of the first hand house market in Changchun,and sums up the financial regulation policies issued by the Changchun municipal government and relevant departments from 2008 to 2016.It analyzes from four aspects,including monetary policy,credit policy,interest rate policy and exchange rate policy,introduces variables,tests the results of introduction and implementation of policies according to empirical data,through analysis of the changes of Changchun City's first hand commercial house price chain index and year on year index in the last decade,analyzes the influence results,and finds out the inadequate.In the end,the author puts forward some suggestions of perfected financial regulation policies for the long term development of the first hand house market in Changchun.This paper is divided into five chapters:The first chapter summarizes the overview of financial macro-control policies,theoretically analyzes and confirms the meaning and the transmission mechanism of financial regulation policy,summarizes the four methods of financial policy and the effect of the government's macro-control of the real estate market,explains the theoretical basis of financial policy as the national macro-control method of the real estate market.The second chapter analyzes the current development situation of Changchun's first hand house market,summarizes the financial macro-control policies issued by the Changchun municipal government and relevant departments since 2008 to now.The third chapter separately analyzes the impact of monetary policy,credit policy,interest rate policy and exchange rate policy on the first hand house market in Changchun City,extracts the impact and feature of each financial regulation method.The fourth chapter introduces the variables of sales price index of Changchun's first hand commercial house during 2007-2016,specifically analyzes the effect of financial policy on Changchun's first hand house market according to empirical data,analyzes the results and finds out the inadequate.In the fifth chapter,the author puts forward some practical suggestions on financial macro-control policies for the first hand house market in Changchun.