{"title":"Local land regulatory governance and land transaction prices: Micro evidence from land audits","authors":"","doi":"10.1016/j.eap.2024.08.011","DOIUrl":null,"url":null,"abstract":"<div><p>It is of great significance to explore the role of land supervision in the standardization of local land transactions. We document the <em>DID</em> strategy to systematically evaluate how land audits affect the transactions in the land market. The results show that: (1) land audits have restrained the transactions of low price of industrial lands and the high price of commercial and residential lands, raised the unit price of industrial lands transactions, and reduced the price of commercial and residential lands, and these effects would not exist in the public sectors land transactions; (2) the impacts of land audits are more pronounced in State-Owned Enterprises (SOEs) and enterprises with large-scale operations and high capital intensity; (3) audits have overall positive significance, which has increased the total investment of local industrial enterprises and reduced the investment bubble. However, there are no deterrent effects. The conclusions have important implications for our understanding of the loss of lands and resources, supervision, and the standardized construction of the trading market.</p></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":null,"pages":null},"PeriodicalIF":7.9000,"publicationDate":"2024-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Economic Analysis and Policy","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0313592624002005","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
It is of great significance to explore the role of land supervision in the standardization of local land transactions. We document the DID strategy to systematically evaluate how land audits affect the transactions in the land market. The results show that: (1) land audits have restrained the transactions of low price of industrial lands and the high price of commercial and residential lands, raised the unit price of industrial lands transactions, and reduced the price of commercial and residential lands, and these effects would not exist in the public sectors land transactions; (2) the impacts of land audits are more pronounced in State-Owned Enterprises (SOEs) and enterprises with large-scale operations and high capital intensity; (3) audits have overall positive significance, which has increased the total investment of local industrial enterprises and reduced the investment bubble. However, there are no deterrent effects. The conclusions have important implications for our understanding of the loss of lands and resources, supervision, and the standardized construction of the trading market.
探讨土地监管在规范地方土地交易中的作用具有重要意义。我们采用 DID 策略,系统评估了土地审计对土地市场交易的影响。结果表明(1)土地审计抑制了工业用地的低价交易和商住用地的高价交易,提高了工业用地的交易单价,降低了商住用地的交易价格,而这些效应在公共部门的土地交易中是不存在的;(2)土地审计对国有企业和规模经营、资本密集度高的企业的影响更为明显;(3)审计具有整体正向意义,增加了地方工业企业的投资总额,减少了投资泡沫。但没有威慑作用。结论对我们认识土地和资源流失、监管以及交易市场规范化建设具有重要意义。
期刊介绍:
Economic Analysis and Policy (established 1970) publishes articles from all branches of economics with a particular focus on research, theoretical and applied, which has strong policy relevance. The journal also publishes survey articles and empirical replications on key policy issues. Authors are expected to highlight the main insights in a non-technical introduction and in the conclusion.