Study on the dependence relationship between real estate industry and financial development in China?￠????Empirical research based on granger causality method

摘要

According to the development of Chinese real estate industry, the two-way dependence relationship between economic growth of real estate industry and financial development in China is studied by the testing methods of co-integration analysis and Granger causality. It is shown that there is co-integration relationship and one-way causation between Chinese real estate industry and financial development. In other words, financial development is the Granger reason of economic growth of Chinese real estate industry. Meanwhile, the economic growth of Chinese real estate industry doesn’t have an obvious positive effect on financial development.