Research On The Impact Of Shadow Bank On The Supply Of Real Estate Developers

In order to curb excess investment by property developers,the government has repeatedly issued regulatory documents that regulate traditional commercial banks' funding for real estate developers,but the effect of implementing regulatory policies is unclear.With rising house prices,real estate developers have attracted shadowbank funding with good expectations,good collateral and high margins.In recent years,the size of shadow banking has continued to grow.Shadow banking is always outside the regulatory regime as a complement to traditional bank credit,and performs the same function of commercial bank credit conversion,term conversion,liquidity conversion,and through the issuance of asset management products.Raise funds and go through multiple nesting and channels.Business practices are in the hands of real estate developers and diminish the effectiveness of regulatory policies.In this context,it is of great theoretical and practical significance to study the impact of shadow banking on the supply of real estate developers.This paper mainly studies the impact of shadow banking on the supply of real estate developers.The real estate developers in this paper refer to the overall developers in the macro sense,and do not introduce one developer separately.First,it introduces the concept and features of shadow banking and real estate developers and the reasons for shadow banking,analyzes the motivation and scale of supply of shadow banking real estate developers funds,and then the development of real estate under the supervision of shadow banking Introduce how to provide funding to Next,we theoretically analyze the impact of shadow banking on real estate developers,then empirically analyze the impact of shadow banking on real estate developers,and use the three indicators of trust loan,trust loan,and draft before discounting.Select to measure the size of shadow banking.Three indicators of real estate development investment,housing price and finished area were selected to measure real estate developers,and the impact of shadow banking on real estate developers' capital supply was analyzed using impulse response.Empirical results show that the overall size of shadow banking funding has a positive impact on real estate development investments,housing prices,and finished area.According to empirical results,this paper advocates the following proposals for shadow banking and real estate developers: first,to protect the position of the dwelling,to maintain the stability and continuity of the real estate policy;To promote coordination between the real estate industry and the national economy and other industries.Third,strengthen supervision of shadow banking investment real estate,and fourth,monitor and summarize the shadow bank's funding for real estate.