Since the reform and opening up, the Chinese economy has achieved rapid growth, accompanied by the gradual slowdown in the growth rate of total factor productivity. Compared with developed countries, China’s total factor productivity is still at a low level and there is a serious imbalance between regions. The rapid rise in house prices and land prices has made local governments’ development mode centered on land transfer, and it has been classified as the " culprit” of high housing prices. What is worth exploring is: What impact does local governments’ development mode with land transfer as its core have on China’s total factor productivity? Can we explain the trend of change and regional differences in China’s total factor productivity from the perspective of land lease? This paper focuses on the impact of local governments’ land lease behavior on urban total factor productivity. Based on the existing research literature, this paper proposes two hypotheses of this study through the analysis of the status quo and the theoretical mechanism. On the empirical test, the
/ Journals / Journal of Finance and Economics
Journal of Finance and Economics
LiuYuanchun, Editor-in-Chief
ZhengChunrong, Vice Executive Editor-in-Chief
YaoLan BaoXiaohua HuangJun, Vice Editor-in-Chief
Land Lease,Resource Misallocation and Total Factor Productivity
Journal of Finance and Economics Vol. 45, Issue 02, pp. 73 - 85 (2019) DOI:10.16538/j.cnki.jfe.2019.02.006
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References
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Cite this article
Zhang Shaohui, Yu Yongze. Land Lease,Resource Misallocation and Total Factor Productivity[J]. Journal of Finance and Economics, 2019, 45(2): 73-85.
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