土地出让、城市建设与房地产价格——对中国特色城市建设投融资模式的探讨

发布时间：2018-03-30 22:02

  本文选题：地方政府　切入点：土地出让　出处：《学海》2014年05期

【摘要】：本文通过对土地出让、城市建设、房地产价格之间经济机制的分析,描述了一种具有中国特色的"经营城市"投融资模式,并利用35个大中城市的面板数据构建了住房和土地市场的联立方程组,对其进行了验证。我们发现,土地出让金对于地方财政越重要,城市政府越有动力出让更多的土地,使得土地供给弹性上升。同时,土地出让金的充裕使得地方政府有更多的财力进行城市基础设施建设,提升产业发展环境和宜居性,从经济增长和生活质量两个途径间接推动房价和地价上升,在未来产生更多的土地出让收入,形成土地出让、城市建设和房地产价格的自我强化。实证结果表明,基础设施改善对于房价和地价的推动作用比土地供给弹性增加所可能带来的抑制效应更为显著。
[Abstract]:Based on the analysis of the economic mechanism among land sale, urban construction and real estate prices, this paper describes a mode of investment and financing with Chinese characteristics of "managing city". And using the panel data of 35 large and medium-sized cities to construct the simultaneous equations of housing and land market. We find that the more important the land transfer fee is to the local finance, the more the city government has the incentive to sell more land. At the same time, local governments have more financial resources to carry out urban infrastructure construction and enhance the industrial development environment and liveability. From the two ways of economic growth and quality of life indirectly promote the rise of house prices and land prices, generate more land sales income in the future, form land sales, urban construction and real estate prices self-strengthening. The effect of infrastructure improvement on house price and land price is more significant than that of the increase of land supply elasticity.
【作者单位】： 清华大学恒隆房地产研究中心;清华大学建设管理系;住房和城乡建设部住宅产业化促进中心;
【基金】：国家自然科学基金优秀青年基金项目“城市增长机制与管理”(71322307) 面上项目“地方公共品影响住房市场的微观机制:城市空间中的静态和动态研究”(70973065、71273154) 教育部新世纪人才支持计划(NCET-12-0313) 清华大学自主科研计划的资助
【分类号】：F299.2
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本文编号：1687819