This paper examines whether urban leverage, defined by the bank loan-to-deposit ratio in a city, affects housing prices in China. Using a panel dataset of 236 cities and hedonic models, we find a depressing effect of urban leverage on housing price in first- and second-tier cities while leaving...

A nation's construction industry is essentially home grown, a derivative of its culture, history, geography and economic circumstances with every building or road a unique product, always a prototype, unlike the honed prototypes set up for efficient production runs of other industries. In terms...