中文摘要：

政府的金融支持对于房地产市场发展意义重大。在金融支持与房地产市场关系理论分析基础上,通过状态空间模型的时变参数分析方法,围绕2003-2015年间金融支持对山西省房地产市场发展的影响进行了实证检验。研究表明：样本期内,开发性金融支持、消费性金融支持对山西省房地产市场量、价的影响是动态变化的,它们之间是一种变协整关系;与消费性金融支持相比,开发性金融支持对市场的影响力度更大,且对商品房平均售价的作用要大于对商品房销售面积的作用。最后,结合实证结论及山西省房地产市场的现实提出了刺激消费、消化库存的建议。

英文摘要：

Government＇s financial support is of great significance to the development of real estate market. Based on the theoretical analysis of the relationship between financial support and real estate market, the paper does an empirical test of the influence of financial support on the development of real estate market in Shanxi between 2003 - 2015 using the time - varying parameter analysis method of the state space model. The study shows that, the financial support has dynamic impacts on the quantity and price of real estate market in Shanxi during the sample period, there is a kind of variable co - integration relationship between them. Compared with consumer financial sup- port, the development financial support has a greater impact on real estate market. In addition, development financial support has a greater impact on average sales prices than sales area of commercial housing. Finally, the paper puts forward the suggestions about stimulating consumption and reducing the inventories combined with the empirical conclusions and the reality of real estate market in Shanxi Province.