Empirical study of the local government deficit, land finance and real estate markets in China

Pan, Jiun-Nan; Huang, Jr‐Tsung; Chiang, Tsun‐Feng

doi:10.1016/j.chieco.2014.11.003

Cited by 113 publications

(61 citation statements)

References 26 publications

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“…For the land that is closer to the city center, its intensity, use of income, scarcity, and planning FAR are higher. For the most of real estate development enterprises in China, project financing is the financing of a particular project in which a lender is satisfied to look initially to the cash flows and earnings of the project as the source of funds from which a loan will be repaid and to the assets of the economic unit as collateral for the loan [48]. If the land price is high, then the fund will be used to purchase land, and it will be occupied for a quite long time with the financing cost.…”

Section: Political Characteristicsmentioning

confidence: 99%

Factors Influencing Land Development and Redevelopment during China’s Rapid Urbanization: Evidence from Haikou City, 2003–2016

2017

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Land development and redevelopment (LDR) is essential to economic growth and the advancement of urbanization in urban China. Moreover, various factors affect LDR. Based on an investigation, during 2003-2016, which involves 420 parcels within a 2-km section of the Nandu River, Haikou city, this paper employs a logistic model, so as to judge the impact of LDR on these parcels, and then with an improved hedonic model, it sets out to explore the LDR influencing factors. Specifically, the results show that the impact mechanism of LDR in China is different from countries where economy is the main influencing force. Moreover, China's urban land development results from the cooperation and competition between local government and enterprises, with a particular focus on multiple political and economic factors. Hence, the paper innovatively incorporates quantifiable political and property factors that significantly influence the results. Finally, the paper tries to explain the variance from macro-level government and micro-level enterprises perspectives. In conclusion, China's land development requires cooperation among the government and enterprises, in order to improve the economic, social, and environmental benefits of land use.

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Section: Political Characteristicsmentioning

confidence: 99%

Factors Influencing Land Development and Redevelopment during China’s Rapid Urbanization: Evidence from Haikou City, 2003–2016

2017

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“…In some innovative but not entirely legal models, villages brought this land directly to market, and reaping large profits in doing so (Su et al, 2013). 3 Land has thus become a major policy issue (Wong, 2014) with multiple institutional challenges (Pan, Huang and Chiang, 2015). 4 Between 1987 and 2001, alone, an estimated 40-50 million farmers lost half or more of their land to expropriation and of these only about half obtained an urban hukou giving them access to social services and education for their children (Tao and Xu, 2007).…”

Section: The Land and Labour Market Challenges Of Rapid Urbanizationmentioning

confidence: 99%

“… Land has thus become a major policy issue (Wong, ) with multiple institutional challenges (Pan, Huang and Chiang, ). …”

mentioning

confidence: 99%

Property Rights Reform to Support China's Rural–Urban Integration: Village‐Level Evidence from the Chengdu Experiment

Deininger

Liu

et al. 2019

Oxf Bull Econ Stat

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As part of a national experiment, in 2008, Chengdu prefecture launched a series of property rights reforms, among them complete registration of all land and measures to ease transferability and eliminate labour market restrictions. A comparison of villages inside and outside the prefecture's border using a difference‐in‐difference approach suggests that the reforms have reduced administrative reallocations; aligned land use closer to economic incentives, mainly through market transfers; and stimulated enterprise startups. These results, most of which are more pronounced for villages closer to Chengdu city, illuminate the potential gains from factor market reform.

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“…doi: 10.18334/rp.16.17.1856 Введение Область деятельности по оценке имущества в Китае за последние 20 лет быстро развивается, сфера предоставления услуг расширилась до всех социально-экономических разрезов. Оценка имущества играет важную и активную роль не только в аспектах защиты права государственного имущества и обеспечения его безопасности, но и в аспектах реформы и открытости, стимулирования развития капитального рынка, защиты порядка социалистической рыночной экономики и предотвращения финансовых рисков, и т.д., стала одной из важных областей посреднического сервиса в социалистической рыночной экономике (Артеменков, Артеменков, 2013;Навроцкая, Сопилко, 2013;Цоллер, 2013;Huang, Yang, 1996;Li, Li, Skitmore, et al, 2009;Pan, Huang, Chiang, 2015;Renaud, 2003;Wu, Gyourko, Deng, 2015;Zhang, Du, Geng, et al, 2015;Zhu, 2012).…”

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The modern condition, problems and recommendations for the property assessment activity in China

Чжан¹,

Ван²,

Ян³

2015

Ross. Pred.

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Empirical study of the local government deficit, land finance and real estate markets in China

Cited by 113 publications

References 26 publications

Factors Influencing Land Development and Redevelopment during China’s Rapid Urbanization: Evidence from Haikou City, 2003–2016

Factors Influencing Land Development and Redevelopment during China’s Rapid Urbanization: Evidence from Haikou City, 2003–2016

Property Rights Reform to Support China's Rural–Urban Integration: Village‐Level Evidence from the Chengdu Experiment

The modern condition, problems and recommendations for the property assessment activity in China

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