The knotty interplay between credit and housing

Constantinescu, Mihnea; Lastauskas, Povilas

doi:10.1016/j.qref.2018.05.013

Cited by 2 publications

(4 citation statements)

References 52 publications

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“…When the cointegrating coefficients are subject to possible non-linear relationship and cross-equation restrictions Long run structural modeling is a solution for modeling. Autoregressive distributed lag model was used by Constantinescu and Lastauskas (2018), Pesaran and Shin (1998), and other authors. An additional test of Granger causality is widely used to define the direction of the effect for structural models between the variables (Constantinescu and Lastauskas, 2018;Panagiotidis and Printzis, 2016).…”

Section: Summary Of Econometric Methods For the Housing Marketmentioning

confidence: 99%

“…We did not find another study that had exactly the same variables and time frame; however there are few studies for the credit and house prices where results are comparable. For example, Constantinescu and Lastauskas (2018) found that Germany error correction term was (-0.094); France (-.053); Italy (-0.042); Spain ( -0.074); While for other industrialized countries they found that credit speed of adjustment ranges from 2.5 years to 9 years worldwide. Hofmann (2009) found similar to Constantinescu and Lastauskas (2018) research results that are summarized in TABLE No.…”

Section: Short Run Causalitymentioning

confidence: 99%

“…Most of the studies in the field are using either yearly or quarterly data. Annual and quarterly data used in modeling can produce different results for the same countries depending on the frequency of the data (Constantinescu and Lastauskas, 2018). As one of the main economic activity indicators -GDP is not available on monthly data.…”

Section: Introductionmentioning

confidence: 99%

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An Assessment of House Loans Cointegration with Macro Variables in Selected Euro Zone Countries

Kupčinskas

Paškevičius

2020

ECO

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This paper performs an empirical study on house loans, interest rates, unemployment, and house rent prices relationship in Germany, France, Spain and Italy from the year 2003 to 2018. We look for the cointegration and causality relationship between the house loans and macro variables with the help of the Vector error correction model (VECM) and Granger causality methods. We investigate whether variables with monthly data explain better the relationship and causal effects between the variables. We find a long term cointegrating relationship between the real house loans and interest rates, unemployment and house rent prices for France, Spain, and Italy, but not for Germany. On average the equilibrium in house loan development is reached from 4 to 8 years, meaning that long term equilibrium exists, but the variables reach it in a rather long time period. The ECB deposit facility rate included as an exogenous variable in four countries gained no significant power in explaining the short term changes of house loans in any of the country. We reveal a complex interaction between the bank’s credits and unemployment, interest rates, house rental prices in the paper.

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Section: Summary Of Econometric Methods For the Housing Marketmentioning

confidence: 99%

Section: Short Run Causalitymentioning

confidence: 99%

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An Assessment of House Loans Cointegration with Macro Variables in Selected Euro Zone Countries

Kupčinskas

Paškevičius

2020

ECO

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“…The Demirgüç-Kunt et al (2018) report on the Global Findex showed that the main reason for borrowing among adults in high-income and developing-income economies was for buying land or a home. Constantinescu and Lastauskas (2018) showed the relationship between housing and credits. They noted that individuals would have to incur more debt with higher housing prices and the need for an equivalent collateral value to a lending institution.…”

Section: Introductionmentioning

confidence: 99%

Evaluation of women’s access to building credits from banks in Nigeria

Afolabi

Akinlolu

2021

Banks and Bank Systems

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Women are responsible for the fastest economic growth in the world through their commercial activities. Despite this notable act, women in developing countries are most times sidelined in accessing financial incentives from banks. The purpose of this study was to evaluate the criteria used by banks and the problems encountered by women in accessing building credits in Nigeria. The study used a cross-sectional survey research design that utilized an electronic questionnaire instrument. The data obtained were analyzed using frequencies, percentages, 100% stacked bars, mean score, ANOVA, and categorical regression (CAT-REG) tests. The result revealed that the primary criteria to access building credits across different banks in Nigeria were the source of income/level of income, credit status/review, and the value of the collateral. When women can access building credits from banks, it can lead to improved living conditions for women, improved work-life, and benefits for their children. However, the lack of collateral, lack of financial literacy, lack of formal employment, and lack of right to ownership of property are limiting factors in women lending from banks. Furthermore, gender discrimination, lack of financial literacy, and low educational background could influence women’s access to building credits from banks. To facilitate the provision of loans to women from banks, it is necessary to improve government policy, economic reforms and banking legislation for women’s access to loans. AcknowledgmentThe article processing charge (APC) for this paper was supported by Covenant University Centre for Research, Innovation and Discovery, Nigeria.

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The knotty interplay between credit and housing

Cited by 2 publications

References 52 publications

An Assessment of House Loans Cointegration with Macro Variables in Selected Euro Zone Countries

An Assessment of House Loans Cointegration with Macro Variables in Selected Euro Zone Countries

Evaluation of women’s access to building credits from banks in Nigeria

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