| The relationship between real estate industry and regional financial stability has been one of the hot topics in China's economic and financial research.And the instability of regional finance is generally caused by the interdependence between regions with close economic relations,or by the risk of some industries or sectors in the corresponding areas.There is a close relationship between the financial industry,the real estate industry and the financial stability of the region,the corresponding changes in the economic form,will inevitably spread to the corresponding financial industry,triggering financial market transactions.At present,the real estate industry is relatively depressed,to the relevant upstream and downstream relations more closely related to the industry has brought a more serious negative impact,this situation will inevitably bring about a bad impact on regional financial stability.In view of the importance of the real estate industry for the importance of regional financial stability and the urgent need of "going to inventory",this paper attempts to explore its impact on regional financial stability from real estate inventory changes.Firstly,it expounds the background of real estate to inventory,and summarizes the literature review of real estate and regional financial stability,and describes the status quo of real estate change and economic and financial operation.Secondly,this paper introduces the corresponding index system of regional financial stability,and uses the coefficient of variation to calculate the regional financial composite index of each city from 2006 to 2015.Finally,the corresponding indicators of real estate inventory changes and the indicators of real estate development are selected.The data of each city from 2006 to 2015 are selected,and the panel data model is established.The corresponding empirical analysis is carried out and the corresponding conclusions are drawn.Through empirical research,it is found that the real estate industry has different influence on the regional financial stability.First,the first line,second line,three or more regional economic growth is the basis of regional financial stability protection,investment in real estate development by the proportion of GDP increased year by year to know,the real estate industry by stimulating domestic demand and thus promote the corresponding regional economic growth,Regional financial stability.Second,the average selling price of the room has a certain maintenance effect on the financial stability of each region,thus explaining the situation that the price does not fall down.Third,in the first-tier cities,real estate inventories increase too large,will have a negative impact on regional financial stability,and on the second and third tier cities will have a potential negative impact.Fourth,this article will be real estate construction area and commercial housing sales area ratio as real estate inventory situation.Model results,the real estate inventory growth on the first line,second-tier cities have a certain financial stability to maintain the role of the three-tier cities above the financial stability has a negative impact.According to the results of this study,the end of the text of the real estate industry put forward some policy recommendations.First,to the regional urban economic development characteristics as a basis,according to local conditions to take the appropriate sound and effective measures;second,moderate to reduce the supply of land,to prevent the local financial debt crisis and the risk of the financial system;third,Local micro-policy and national macro-policy complement each other to improve the purchasing power of demand;Fourth,the new solution to normal,to adapt to the new normal,to strengthen the monitoring of the real estate market to protect the healthy and stable development of the real estate industry. |
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