Measurement of Systemic Financial Risk Based on Real Estate Market
DOI:
https://doi.org/10.54097/np8f2k06Keywords:
Real estate market, Systemic financial risk, Index system, Risk measurementAbstract
This paper constructs a systematic financial risk index system by selecting indicators from five aspects: macroeconomic risk, stock market risk, financial institution risk, international market risk and real estate market risk, uses the entropy value method to determine the weights of the indicators and calculates the systematic financial risk index from 2007 to 2024. The results of the study show that the systemic financial risk index has a rising trend, especially in recent years. The decline in housing prices and the slowdown in macroeconomic growth result in a significant increase in systemic financial risk. This paper provides some reference for stabilizing house prices and reducing systemic financial risk.
Downloads
References
[1] Z. Cai. The Connection, Contagion Pathways and Countermeasures between China's Systemic Financial Risks and the Real Estate Market. Journal of University of Chinese Academy of Social Sciences, 2018, (5):42-61.
[2] G. Kaminsky, S. Lizondo, C. M. Reinhart. Leading Indicators of Currency Crises. Staff Papers - International Monetary Fund, 1998, 45(1):16-18.
[3] C.S. Hakkio, W.R. Keeton. Financial stress: what is it, how can it be measured, and why does it matter? Federal Reserve Bank of Kansas Economic Review, 2009, 1392: 5-50.
[4] C. Liu, Y. Zhu. A study of systemic risk measurement framework in the banking sector. Financial Research, 2011, (12): 85-99.
[5] L. Tao, Y. Zhu, Monitoring and Measuring Systemic Financial Risks - A Study Based on China's Financial System. Financial Research, 2016, (06):18-36.
[6] J. Wu, T. Wang, Y. Wang. Research on the effect of local government debt risk and spatial spillovers under the new normal economy. Dongyue Tribune, 2018, 39(04):37-49.
Downloads
Published
Issue
Section
License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
