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Túl drága az olcsó hitel - a családi otthonteremtési kedvezmény támogatott hitelkamatainak vizsgálata
[Cheap loans are too expensive: an examination of interest rates on subsidised housing loans]

Author

Listed:
  • Dancsik, Bálint
  • Marosi, Anna
  • Szabó, Beáta

Abstract

Az újonnan szerződött lakáshitelek volumenének mintegy 15 százalékát a családi otthonteremtési kedvezményhez (CSOK) kapcsolódó, államilag támogatott hitelek teszik ki. Az aggregált kamatstatisztikák alapján ezen támogatott lakáshitelek átlagos teljes ügyleti - azaz az állami támogatással való kiegészítést is tartalmazó - kamatlába érdemben meghaladja a piaci alapú lakáshitelek átlagos kamatlábát. Ez a kamatkülönbözet már 2021 első felében is meghaladta az 1 százalékpontot, majd a jegybanki kamatemelési ciklus elindulásával párhuzamosan tovább emelkedett. Tanulmányunk fő kérdése, hogy a piaci és a támogatott lakáshitelek kamatlába közötti különbség indokolható-e a CSOK-hitelek eltérő összetételével és magasabb kockázatával. A támogatott jelleg parciális hatásának azonosítása érdekében kétféleképpen is szűrünk a kamatlábakat befolyásoló egyéb változókra: egyrészt OLS-regressziót futtatunk a hitelkamatokra egyéb kontrollváltozók bevonásával, másrészt kihasználjuk, hogy egyes adósok piaci és támogatott hitelt egyaránt felvettek, ami az azonos körülmények miatt természetes kontrollt jelent az összetételhatás jelentős részére. Eredményeink alapján a CSOK-hitelek magasabb ügyleti kamatlábát nem az összetételhatás okozza. Meglátásunk szerint a kamatkülönbözet fő oka a banki verseny hiánya a támogatott hitelek piacán, amely a jogszabályi keretek azon sajátosságából adódik, hogy az ügyfél mindenképpen rögzített kamatlábat fizet, és nem érdekelt a banki ajánlatok egymás közötti versenyeztetésében.* Journal of Economic Literature (JEL) kód: G21, G51, H32.

Suggested Citation

  • Dancsik, Bálint & Marosi, Anna & Szabó, Beáta, 2022. "Túl drága az olcsó hitel - a családi otthonteremtési kedvezmény támogatott hitelkamatainak vizsgálata [Cheap loans are too expensive: an examination of interest rates on subsidised housing loans]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(12), pages 1493-1506.
    • Handle: RePEc:ksa:szemle:2091
    DOI: 10.18414/KSZ.2022.12.1493
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    References listed on IDEAS

    as
    1. József Molnár & Márton Nagy & Csilla Horváth, 2007. "A Structural Empirical Analysis of Retail Banking Competition: the Case of Hungary," MNB Working Papers 2007/1, Magyar Nemzeti Bank (Central Bank of Hungary).
    2. Csaba Móré & Márton Nagy, 2004. "Competition in the Hungarian Banking Market," MNB Working Papers 2004/9, Magyar Nemzeti Bank (Central Bank of Hungary).
    3. Zsuzsanna Hosszú & Bálint Dancsik, 2018. "Measuring Bank Efficiency and Market Power in the Household and Corporate Credit Markets Considering Credit Risks," Acta Oeconomica, Akadémiai Kiadó, Hungary, vol. 68(2), pages 175-207, June.
    4. Gábor Kézdi & Gergely Csorba, 2013. "Estimating Consumer Lock-In Effects from Firm-Level Data," Journal of Industry, Competition and Trade, Springer, vol. 13(3), pages 431-452, September.
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    More about this item

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G51 - Financial Economics - - Household Finance - - - Household Savings, Borrowing, Debt, and Wealth
    • H32 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Firm

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