Author
Kutlukaya, M., Erol, Işıl
Publication Date
2016-09
Publication Place
-
Springer Science+Business Media
Subject
Cross sectional regression, Europe, Housing finance, Mortgage lending, Mortgage markets, Panel data analysis, Pooled OLS regression, Variable selection
Type
Periodical
Language
English
Digital
Yes
Manuscript
No
Library
Özyeğin University
Library Asset ID
1573-7772
Record ID
d3bb287f-b6da-4811-8192-3b33b586b9ec
Library Location
International Finance
Date
2016-09
Notes
Due to copyright restrictions, the access to the full text of this article is only available via subscription.
Sample Text
To date, quantitative analysis on the depth of mortgage markets across a broad set of countries has been very limited. This paper uses a rich and balanced data set on 31 European countries to investigate the cross-country variations in the depth of mortgage markets during the period 2005–2012. The present paper might be accepted as the updated and enriched version of existing research for the European region in terms of the coverage of countries, historical data and the empirical analyses. Our empirical findings reveal that developed countries have sizeable residential mortgage markets and this is mainly associated with higher urbanization rates and stronger legal rights. One of the most notable results of this study is that, statistical significance of explanatory variables in modeling the depth of the mortgage markets depends heavily on both the variables, countries (regions) included in the models and the regression methodology used. Hence, we argue that strong conclusions based on such analyses should be avoided and the findings of previous research on the variations of the depth of mortgage markets should be carefully evaluated.
DOI
10.1007/s10901-015-9473-2
Cilt
31
