Volumes of housing mortgage lending as an indicator of economic development of regions
The goal of the article is to analyze the relationship between housing mortgage lending and the socio-economic development of regions of the Russian Federation. The object is mortgage lending of subjects of the Russian Federation. The subject is the relationship between the volume of mortgage housing lending and the economic development of regions. The hypothesis is that volumes of mortgage housing lending can be an indicator of the economic development of regions. Rating of regions by the volume of mortgage housing lending and GRP per capita showed that in general, regions with high volumes of mortgage lending are also economically developed. Regions with low mortgage lending volumes are outsiders (and close to them) in terms of economic development. The angular coefficient of the constructed regression models showed that the increase in mortgage lending in leading regions, in relatively developed regions, and in outsiders in terms of housing mortgage lending per capita can have approximately the same impact on economic development. Therefore, in addition to the found angular coefficients, regions were grouped according to the indicator that gives an idea of availability of purchasing housing in a particular region. As a result of rating and grouping of regions through the prism of comparing the volume of mortgage lending per capita and the ratio of the average price per square meter of housing to the average per capita income of population, 5 groups of regions according to the degree of importance of mortgage housing lending for economic development were formed. In regions with relatively low level of economic development, a positive effect on economic development from an increase in the volume of housing mortgage lending is lower than in developed regions, as well as there are fewer opportunities to stimulate mortgage lending. Thus, the volume of mortgage housing lending can be an indicator of economic development of regions.