Econometric Analysis of the Impact of Mortgage Bank Facility Payments on the Housing Sector's Value Added

The purpose of this study is to investigate the impact of Maskan bank lending facilities on the value added of the housing sector in Iran for the period 1994-2017. The issue under consideration is of particular importance both in terms of the status of the housing sector in the Iranian economy and in the impact that the policies of the housing sector have on this sector. In this study, to evaluate the long-run relationship between variables for using time series data after reliability tests, model estimation is performed using ARDL based on boundary test. The long-run relationship between the variables is confirmed and the results related to the coefficients of housing bank logarithm, private sector investment logarithm, and inflation rate logarithm showe that these variables have a positive and significant effect on the value added. Housing sector and the coefficient obtained for the logarithm of the rate of interest rate of the facility reflects the impact. The negative aspects of this variable are the value added of the housing sector. Also, the estimated ECM coefficient in the negative model 2 is less than one and confirms the existence of convergence in the model, indicating that 70% of the imbalances in each period are corrected.