The Influence Of Internet Finance Development On China's Real Estate Price Fluctuation

In recent years,Internet finance has developed rapidly in China.Although the rise of Internet finance has not taken place for a long time,it has penetrated into various fields of Chinese residents'lives,which has had a tremendous impact on our lives and played a role in promoting the development of the times.At present,our food,clothing,housing and transportation are closely related to Internet finance.The rise of emerging payment methods such as Alipay and WeChat payment has also impacted traditional payment methods.The influence of Internet finance on residents is deepening,and the changes in real estate prices have always attracted people's attention.In order to study the impact of the development of Internet finance on the fluctuation of real estate prices in China,this paper first studies the current situation of Internet finance development through the literature,the impact on the economy and the main factors affecting real estate prices,and then through the theoretical analysis of the Internet.The mechanism of the impact of financial development on real estate price changes,and finally through empirical analysis to confirm the impact of the development of Internet finance on China's real estate price fluctuations.The research in this paper can deepen residents'understanding of Internet finance,recognize the impact of Internet finance development on real estate prices,and provide a new way for the government to use Internet finance regulation to regulate real estate prices.In terms of empirical analysis,this paper firstly uses the Peking University,Shanghai New Financial Research Institute,and Ant Financial Group to jointly develop the Peking University Internet Comprehensive Development Index,Internet Payment Development Index,and Internet Money Fund from January 2014 to March 2016.The index,the Internet Insurance Development Index and the Internet Investment Development Index respectively establish a multivariable linear regression model for the average real estate price in the country,and conclude that the development of Internet finance has promoted the rise of the average real estate price in the country,including Internet financial payments,insurance and currency.The development of the fund has promoted the rise of the average price of real estate in the country,and there is no causal relationship between the development of Internet financial investment and the average price of real estate in the country.Then this paper empirically analyzes the PVAR model of the Internet financial development index of each province and the real estate price of each province.Due to the availability of data and the development of different provinces and cities in China,this paper selects 18 representative provinces.The panel data has been empirically analyzed.The empirncal analysis shows that the development of Internet finance has promoted the rise of real estate prices in China to a certain extent.Finally,based on the conclusions of theoretical analysis and empirical analysis,this paper proposes relevant policy recommendations from the level of residents,enterprises and countries.