Utilisation Efficiency of Construction Land in China’s Coastal Cities Based on Debt Level

Abstract

Optimising the allocation of population, land, and capital production resources is crucial for promoting an efficient urbanisation and solving the urban land financial problem. This study uses a panel threshold model to identify the response boundary of urban construction land use efficiency to government debt level for 51 postfinancial crisis Chinese coastal cities. The results indicate that the threshold of economic development level and provincial gross domestic product (per capita gross domestic product: pgdp) are 2.67 and 5.17, respectively. In cities with relatively backward economic development, an expansion of the government debt scale hinders the improvement of the utilisation efficiency of construction land. Also, the threshold value of the government’s accumulated debt level threshold (sd) is 15.83%. When cities fall below the government accumulated debt level threshold (sd < 15.83%), the new debt level has a positive effect on the utilisation efficiency of construction land. When sd > 15.83%, the new debt level impedes the improvement of the utilisation efficiency of construction land. Local governments should reduce their dependence on land finance in cities with high cumulative debt ratios, especially those with negative responses to both thresholds (pgdp and sd thresholds). This study’s findings can provide a reference for a sustainable promotion of new urbanisation in both China and in other countries to avoid the risk of land urbanisation.

Assessment and Contributing Factors of the Spatial Misallocation of Construction Land: A Case Study of Shandong, China

“…Chen (2017) established a two-sector general equilibrium model to quantify the loss in production efficiency engendered by land misallocation. Some scholars have conducted empirical analyses of China's land market and found that the government's strategic land supply behavior not only causes CLM among sectors and regions but also wastes a large amount of land resources (Du and Peiser, 2014;Wu et al, 2018;Hui Wang et al, 2020). In addition, scholars who discussed related fields, such as capital, labor, and housing market misallocation, could also provide abundant references vis à vis the characteristics of the SMCL (Midrigan and Xu, 2014;Liu and Wong, 2015;Dai and Cheng, 2019;Wu et al, 2020;Shi, 2022).…”

Spatial–Temporal Pattern and Convergence Characteristics of Provincial Urban Land Use Efficiency under Environmental Constraints in China

“…Since the reform and opening up, along with the rapid advancement of urbanization and industrialization in China, the amount of urban land has shown a continuous surge. At the same time, the extensive urban land use pattern also leads to a series of problems, such as an unreasonable land structure, disordered land distribution and low land use efficiency [ 2 ]. In the process of rapid urbanization, the excessive consumption of resources and environmental pollution are increasing, and China’s urbanization development is approaching the constraint boundary of resources and environmental conditions.…”