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Group identification and political trust: A study on the influence and action mechanism of village leadership on farmers’ participation in public affairs 群体认同与政治信任:村领导对农民公共事务参与的影响及作用机制研究
IF 7 1区 经济学 Q1 DEVELOPMENT STUDIES Pub Date : 2025-10-30 DOI: 10.1016/j.habitatint.2025.103645
Guanqing Xu, Yaqiu Su, Yuchun Zhu
Farmers are the backbone of rural societies, increasing their participation in public affairs is crucial for effective rural governance. Leadership is key to the success of community collective actions, with village leaders acting as essential agents in mobilizing residents. Using field survey data from 2023, this study empirically examines how village leadership influences farmers' participation in public affairs and the mechanisms behind it. The results show that: (1) Enhancing village leadership has a positive effect on motivating farmers to participate in village public affairs; (2) Mechanism analysis indicates that village leadership can promote farmers' participation in public affairs by strengthening their group identification and political trust; (3) The positive influence of village leadership is more pronounced in villages with collective industries and incentive systems but is weakened in contexts where strong clan networks or high levels of bureaucratic “administrativization” exist. This study proposes an improved analytical framework for analyzing how village leadership affects farmers’ participation in public affairs, considering community group identity and trust in village leaders as underlying mechanisms. It also enriches the empirical literature on village leadership within the field of rural governance.
农民是农村社会的中坚力量,增加农民对公共事务的参与对农村有效治理至关重要。领导是社区集体行动取得成功的关键,村领导在动员居民方面发挥着重要作用。本研究利用2023年的实地调查数据,实证考察了村领导如何影响农民参与公共事务及其背后的机制。结果表明:(1)加强村级领导对激励农民参与村级公共事务具有正向作用;(2)机制分析表明,村领导通过增强农民群体认同和政治信任,促进农民参与公共事务;(3)在拥有集体工业和激励制度的村庄,村级领导的积极影响更为明显,但在存在强大的宗族网络或高度官僚“行政化”的情况下,村级领导的积极影响减弱。本研究提出了一个改进的分析框架来分析村领导如何影响农民参与公共事务,将社区群体认同和对村领导的信任作为潜在机制。这也丰富了乡村治理领域中关于乡村领导的实证文献。
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引用次数: 0
Uncommon characteristics of coastal landscape pattern stability in Guangdong Province and its quantitative causation with regional economic development 广东省沿海景观格局稳定性的特殊特征及其与区域经济发展的定量因果关系
IF 7 1区 经济学 Q1 DEVELOPMENT STUDIES Pub Date : 2025-10-28 DOI: 10.1016/j.habitatint.2025.103647
Kanglin Chen , Yushi Li , Jianzhou Gong
Rapid industrialization and urbanization have significantly affected the coastal landscape pattern stability (CLPS) serving as a notable feature of global change. This study quantitatively analyzed the transfer paths and underlying characteristics of CLPS across different coastal areas in Guangdong Province from 1985 to 2020 through the gravity transfer model, standard deviational ellipse, hotspot analysis and the space-time cube model. Additionally, the nonlinearity and causation between CLPS and regional economic development were quantitatively explored using a nonlinear regression model, the spatial inconsistency index, and the geographical convergent cross-mapping (GCCM) model. The main findings are as follows. (1) The general transfer path of the CLPS predominantly shifted back and forth from southwest to northeast over time, with significant shifts observed between 2000 and 2005 and from 2010 to 2015. Notable variations in the transfer paths of the CLPS were evident across different coastal areas throughout the study period. (2) The proportion of oscillating cold spots reached 71.25 %, indicating an increasingly fragmented pattern and a declining grade of CLPS. New cold spots primarily emerged in the southeastern part of the Western Coastal Zone (WCZ) and Eastern Coastal Zone (ECZ). (3) Nonlinear regression analyses revealed an inverted “U-shaped” relationship between CLPS and annual GDP at the county level, and the average annual GDP thresholds for the ECZ, Middle coastal zone (MCZ), and WCZ were 300, 600, and 30 million yuan/year, respectively. A significant lack of coordination in the spatial distribution between CLPS and regional economic development, characterized by poor consistency in their geographical distributions (Type I of the SI index accounting for 63.50 %–69.42 % in the MCZ). (4) Regional economic development was identified as the driving factor behind the changes in CLPS (with an average causal influence coefficient ρ ≈ 0.3), while CLPS exhibited only a weak reciprocal effect on regional economic development (with an average ρ ≈ 0.09). Additionally, the relationship between CLPS and county-level per capita GDP generally exhibited the characteristics of a distinct stage-dependent Kuznets Curve. These findings on the dynamics and internal relationships of CLPS are valuable for future integrated coastal management and high-quality development during extensive industrialization and urbanization along the coast of Guangdong Province and similar coastal regions worldwide.
快速工业化和城市化对海岸带景观格局稳定性的影响是全球变化的显著特征。通过重力转移模型、标准差椭圆模型、热点分析和时空立方体模型,定量分析了1985 - 2020年广东省不同沿海地区CLPS的转移路径及其潜在特征。此外,利用非线性回归模型、空间不一致指数和地理收敛交叉映射(GCCM)模型定量探讨了CLPS与区域经济发展之间的非线性和因果关系。主要研究结果如下:(1)随着时间的推移,CLPS的总体转移路径以西南向东北的来回转移为主,其中2000—2005年和2010—2015年的转移较为显著。在整个研究期间,不同沿海地区的CLPS迁移路径存在显著差异。(2)振荡冷点占比达71.25%,显示出破碎化趋势日益明显,CLPS等级下降。新冷点主要出现在西部海岸带(WCZ)东南部和东部海岸带(ECZ)。(3)非线性回归分析显示,县域CLPS与年均GDP呈倒“u”型关系,ECZ、MCZ和WCZ的年均GDP阈值分别为3亿、6亿和3000万元/年。CLPS与区域经济发展的空间分布明显缺乏协调性,其地理分布一致性较差(ⅰ类SI指数在MCZ占63.50% ~ 69.42%)。(4)区域经济发展是CLPS变化的驱动因素(平均因果影响系数ρ≈0.3),而CLPS对区域经济发展仅表现出弱的反向影响(平均ρ≈0.09)。此外,CLPS与县域人均GDP的关系总体上呈现出明显的阶段性库兹涅茨曲线特征。这些研究结果对广东沿海及世界类似沿海地区工业化和城市化进程中沿海综合管理和高质量发展具有重要的参考价值。
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引用次数: 0
Dispossessing the vulnerable or building resilience? Assessing the long-term impacts of rural land expropriation on poverty alleviation sustainability in China 剥夺弱势群体还是增强韧性?中国农村征地对扶贫可持续发展的长期影响评估
IF 7 1区 经济学 Q1 DEVELOPMENT STUDIES Pub Date : 2025-10-27 DOI: 10.1016/j.habitatint.2025.103633
Hui Du , Yan Cai , Qingyong Zhang
China has made remarkable achievements in alleviating poverty over the past decades. However, the sustainability of these gains remains uncertain, especially for rural households affected by land expropriation. Existing studies have predominantly focused on the short-term impacts of land expropriation on household income, leaving a critical gap in our understanding of the long-term repercussions. Using the 2018 China Rural Residents Survey which covered 295 villages and 9596 households in 31 provinces, this study investigates the poverty reduction effects of rural land expropriation in China from the perspective of vulnerability, elucidating the mechanisms through which land expropriation impacts the vulnerability of rural households to poverty. Empirical results show a significantly negative impact of land expropriation on poverty vulnerability. This indicates that land expropriation does not necessarily plunge affected households into poverty; on the contrary, it helps reduce their vulnerability to poverty. This result holds across multiple robustness checks and after addressing potential endogeneity concerns. Land expropriation influences poverty vulnerability primarily by affecting investment in human capital and participation in non-agricultural employment. The effects vary by age and regional conditions. It has a more pronounced impact on older populations and a stronger poverty-reducing effect in eastern provinces. These findings highlight the importance of improving compensation and designing targeted support policies—particularly in education and employment—to safeguard the well-being of landless farmers and ensure the sustainability of poverty alleviation efforts.
过去几十年,中国在减贫方面取得了举世瞩目的成就。然而,这些收益的可持续性仍然不确定,特别是对受征地影响的农村家庭而言。现有的研究主要集中在土地征收对家庭收入的短期影响上,在我们对长期影响的理解上留下了一个严重的空白。本文基于2018年中国31个省295个村9596户农村居民调查数据,从脆弱性视角考察了中国农村征地的扶贫效果,阐明了征地影响农户贫困脆弱性的机制。实证结果表明,土地征收对贫困脆弱性有显著的负向影响。这表明,征收土地并不一定会使受影响的家庭陷入贫困;相反,它有助于减少他们对贫困的脆弱性。这一结果持有跨越多个稳健性检查和解决潜在的内生性问题后。土地征收主要通过影响人力资本投资和非农就业参与来影响贫困脆弱性。影响因年龄和地区条件而异。它对老年人口的影响更明显,对东部省份的减贫效果更强。这些发现强调了改善补偿和设计有针对性的支持政策的重要性,特别是在教育和就业方面,以保障无地农民的福祉,并确保扶贫工作的可持续性。
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引用次数: 0
Exploring the socioeconomic composition of transit-adjacent gentrification 探索与公共交通相邻的中产阶级化的社会经济构成
IF 7 1区 经济学 Q1 DEVELOPMENT STUDIES Pub Date : 2025-10-26 DOI: 10.1016/j.habitatint.2025.103627
Tzu-Ling Chen, Li-Shan Su
This study delves into the phenomenon of transit-induced gentrification, examining its manifestation around Taipei Mass Rapid Transit (MRT) stations. Transit-induced gentrification, characterized by rising housing prices due to improved accessibility, is explored through the lens of various stages identified around MRT stations. Employing Principal Component Analysis (PCA) to scrutinize socioeconomic features, the study unveils distinctive patterns across gentrification stages. The research underscores a prevalent late-stage gentrification trend in downtown transit catchment areas, while outward regions exhibit early and middle-stage dynamics. PCA outcomes spotlight the “vulnerable population” as a crucial factor in the early stage, signaling potential displacement concerns. In contrast, both the middle and late stages are defined by the pervasive influence of “significant gentrification.” This study provides nuanced insights into the evolving landscape influenced by transit infrastructure, emphasizing the importance of recognizing gentrification stages for effective urban planning. As Taipei's MRT continues to shape the city's spatial structure, understanding these dynamics becomes paramount for sustainable and inclusive development.
本研究以台北市捷运(MRT)站为研究对象,探讨捷运引发的中产阶级化现象。交通诱导的中产阶级化,其特点是由于可达性的改善而导致房价上涨,通过围绕地铁站确定的各个阶段的镜头进行探索。采用主成分分析(PCA)来审视社会经济特征,该研究揭示了不同中产阶级化阶段的独特模式。该研究强调了市中心交通集水区普遍存在的晚期中产阶级化趋势,而外围地区则表现出早期和中期的动态。PCA结果强调“弱势群体”在早期阶段是一个关键因素,预示着潜在的流离失所问题。相比之下,中期和后期都是由“显著的中产阶级化”的普遍影响所定义的。这项研究对受交通基础设施影响的景观演变提供了细致入微的见解,强调了识别高档化阶段对有效城市规划的重要性。随着台北捷运继续塑造城市的空间结构,了解这些动态对于可持续和包容性发展至关重要。
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引用次数: 0
‘Displace, Dump and Cage?’: Contested logics of formalization of street trading in Harare and Kumasi “位移、倾倒和笼子?”:哈拉雷和库马西街头交易正规化的争议逻辑
IF 7 1区 经济学 Q1 DEVELOPMENT STUDIES Pub Date : 2025-10-24 DOI: 10.1016/j.habitatint.2025.103632
Elmond Bandauko , Lewis Abedi Asante
This paper examines the contested logics of spatial formalization of street trading in Harare (Zimbabwe) and Kumasi (Ghana), two cities shaped by the complex interplay of rising urban informality, colonial legacies, and modernist urban aspirations. Both cities have witnessed increasing tensions between state-driven urban planning initiatives and the everyday spatial practices of informal street traders, who rely on public spaces for their livelihoods. We argue that the spatial rationalities of urban officials in both cities fundamentally clash with the spatial practices and survival strategies of street traders. Urban authorities view spatial formalization as a governing technology aimed at exerting control over urban space, often justifying it through discourses of order, modernity, and economic development. This logic aligns with broader efforts to sanitize and regulate public spaces, reinforcing exclusionary urban policies that seek to marginalize informal trade in favor of structured, state-sanctioned economic activities. However, from the perspective of street traders, these formalization efforts are experienced as acts of displacement, economic dispossession, and spatial exclusion. Traders contest these interventions by developing their own adaptive strategies, including informal negotiations with authorities, strategic mobility, and collective resistance. However, bold resistance to spatial formalization is more prominent in Kumasi compared to Harare due to different political environment. Our study contributes to scholarly discourse on the power dynamics, urban governance tensions, and the everyday struggles of informal workers in the face of state-imposed spatial formalization.
本文考察了哈拉雷(津巴布韦)和库马西(加纳)街头贸易空间正规化的争议逻辑,这两个城市是由不断上升的城市非正式性、殖民遗产和现代主义城市愿望的复杂相互作用形成的。这两个城市都见证了国家推动的城市规划举措与依靠公共空间谋生的非正规街头商贩的日常空间实践之间日益紧张的关系。我们认为,这两个城市的城市官员的空间理性与街头商贩的空间实践和生存策略存在根本冲突。城市当局将空间形式化视为一种旨在对城市空间施加控制的治理技术,通常通过秩序、现代性和经济发展的话语来为其辩护。这种逻辑与净化和规范公共空间的更广泛努力是一致的,强化了排他的城市政策,这些政策寻求将非正式贸易边缘化,转而支持有组织的、国家批准的经济活动。然而,从街头小贩的角度来看,这些正规化的努力经历了流离失所、经济剥夺和空间排斥的行为。交易员通过发展自己的适应性策略来对抗这些干预,包括与当局的非正式谈判、战略流动性和集体抵抗。然而,由于不同的政治环境,库马西对空间形式化的大胆抵制比哈拉雷更为突出。我们的研究有助于对权力动态、城市治理紧张局势以及面对国家强加的空间形式化的非正式工人的日常斗争的学术论述。
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引用次数: 0
How can green mountains and clear waters transform into mountains of gold and silver? Exploring the effects of Yangtze River protection policy on land market in China 青山绿水如何变成金山银山?探讨长江保护政策对中国土地市场的影响
IF 7 1区 经济学 Q1 DEVELOPMENT STUDIES Pub Date : 2025-10-22 DOI: 10.1016/j.habitatint.2025.103622
Zhonghua Huang , Xuejun Du , Sheng Wang , Junhua Chen
We estimate the Yangtze River protection policy’ effect on land values and its economic benefits, based on the quasi-experimental and spatial difference-in-differences hedonic approaches. We found that the prices of land within 3 km distance to the Yangtze River are 13.5 % higher after the policy of Yangtze River protection. This effect is driven by river proximity land with increasing economic vitality for industrial firm entry, service business growth and recreational amenities improvement after the policy. We also found the significant benefits in land market after the policy. The policy implication is that governments should mitigate the spatial inequality of protection policy by using the land value capture taxes funding cross-subsidies, optimize the policy appraise and implementation, and capture the land prices premiums. We focus on the effect of Yangtze River protection on residential land market, while the wider effect of protection policy on different categories of property markets needs further study.
基于准实验和空间差中差的享乐主义方法,对长江保护政策对土地价值及其经济效益的影响进行了估算。研究发现,长江保护政策实施后,距长江3公里以内的土地价格上涨了13.5%。这种效应是由邻近河流的土地驱动的,在政策实施后,工业企业的进入、服务业的增长和娱乐设施的改善增加了经济活力。我们还发现,政策出台后,土地市场的收益显著。政策启示是政府应通过利用土地价值征收税资助交叉补贴来缓解保护政策的空间不平等,优化政策评估和实施,并获取土地价格溢价。我们关注的是长江保护对住宅用地市场的影响,而保护政策对不同类别房地产市场的更广泛影响有待进一步研究。
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引用次数: 0
Urban-rural integration in China: The role of the rural homestead transfer in different rural areas 中国城乡一体化:农村宅基地流转在不同农村地区的作用
IF 7 1区 经济学 Q1 DEVELOPMENT STUDIES Pub Date : 2025-10-21 DOI: 10.1016/j.habitatint.2025.103613
Yongchao Zhang , Hans Westlund
Land system reform is a central component of the structural-economic transformation of rural China. The activation of rural land factors is consistent with urban and rural integration, which requires a balance between factors of land, labor and capital.

Method

We develop a theoretical framework of urban-rural factors that incorporates three components: land, labor and capital and estimate the effects of rural homestead transfer (RHT) by comparing three cases of different practices at different rural homestead transfer cases.

Results

In the first case, results suggest that rural labor can only choose emigration due to non-existing local industries. In the second case, the off-site replacement was successful with the optimal allocation and reorganization of land and industries. Nevertheless, the improvement of household living standard and comprehensive rural revitalization was insufficient. In the third case, the reform has achieved local industrialization and urbanization at “low level”. The land factor and the labor force were well integrated, resulting in return migration and livelihood diversification forms.

Conclusions

the activation of land factors, return migrations of the rural labor and industrialization are critical factors for rural economic development. The promotion of coordinated development of these factors can positively affect household living standards and rural revitalization. This highlights the importance of place-oriented development strategies for comprehensive rural revitalization through the reform process.
土地制度改革是中国农村经济结构转型的核心内容。农村土地要素的激活与城乡一体化是一致的,城乡一体化需要土地、劳动力和资本要素之间的平衡。方法构建了包含土地、劳动力和资本三要素的城乡因素理论框架,并通过对不同农村宅基地流转案例的不同实践进行比较,评估了宅基地流转的效果。结果在第一个案例中,研究结果表明,由于当地不存在产业,农村劳动力只能选择移民。在第二种情况下,通过土地和产业的优化配置和重组,异地置换是成功的。然而,家庭生活水平的提高和乡村的全面振兴是不够的。第三种情况是,改革在“低水平”上实现了地方工业化和城镇化。土地要素和劳动力很好地融合在一起,形成了回迁和生计多样化的形式。结论土地要素的激活、农村劳动力的回流和工业化是农村经济发展的关键因素。促进这些因素的协调发展,可以对居民生活水平和乡村振兴产生积极影响。这凸显了以地方为导向的发展战略在改革过程中对乡村全面振兴的重要性。
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引用次数: 0
A blessing or a curse Intercity networks and urban economic resilience: A U-shaped relationship and empirical evidence from Chinese enterprises 城际网络与城市经济弹性:u型关系及来自中国企业的经验证据
IF 7 1区 经济学 Q1 DEVELOPMENT STUDIES Pub Date : 2025-10-21 DOI: 10.1016/j.habitatint.2025.103616
Kang Wu , Jiazhuo Song
This paper constructs intercity networks using network analysis, based on data from enterprise capital investment records across cities in China. We then examine the mechanisms through which intercity networks influence economic resilience, using data from 265 Chinese cities from 2008 to 2021. The results show that: (1) The intercity network has evolved into a more decentralized and complex structure over time, while the relationship between intercity networks and economic resilience varies both regionally and temporally. (2) Under the impact of the global financial crisis and the COVID-19 pandemic, there exists a U-shaped relationship between intercity network position and urban economic resilience. (3) The heterogeneity analysis demonstrates that the U-shaped relationship between intercity network position and urban economic resilience becomes significant under the influence of the global financial crisis. This relationship is particularly more pronounced in non-central cities and those characterized by higher industrial diversity. (4) Corporate entrepreneurship is a key mechanism through which intercity networks influence urban economic resilience during the financial crisis. The relationship between intercity networks and economic resilience varies across cities and shock types. Therefore, we recommend that cities strategically leverage network positive externalities, tailored to their unique strengths and external conditions, to enhance market dynamism and foster economic resilience.
本文以中国各城市企业资本投资记录数据为基础,运用网络分析法构建城际网络。然后,我们使用2008年至2021年265个中国城市的数据,研究城际网络影响经济弹性的机制。研究结果表明:(1)随着时间的推移,城际网络向更加分散和复杂的结构演变,而城际网络与经济弹性的关系存在区域和时间上的差异。(2)在全球金融危机和新冠肺炎疫情的影响下,城际网络位置与城市经济韧性之间存在u型关系。(3)异质性分析表明,在全球金融危机的影响下,城际网络位置与城市经济弹性之间的u型关系变得显著。这种关系在非中心城市和工业多样性较高的城市尤为明显。(4)企业创业是金融危机时期城际网络影响城市经济韧性的关键机制。城际网络与经济弹性之间的关系因城市和冲击类型而异。因此,我们建议城市根据自身独特优势和外部条件,战略性地利用网络正外部性,增强市场活力,增强经济韧性。
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引用次数: 0
Insights into women's perceived safety: Empirical findings from intercept surveys 洞察女性感知安全:来自拦截调查的实证结果
IF 7 1区 经济学 Q1 DEVELOPMENT STUDIES Pub Date : 2025-10-19 DOI: 10.1016/j.habitatint.2025.103626
Sunhyung Yoo , Sundeep Kumar Sheshadri , Anoop Kumar Shukla , Nam-Sun Kim , Jinwoo (Brian) Lee
This study investigates the relative importance of various factors in influencing women's perceived safety in public spaces. Using a quantitative approach with on-site intercept surveys, we aim to capture immediate perceived safety of street users across three distinct locations in the medium-sized Indian cities of Udupi and Manipal, each characterised by unique built environment features. Through statistical analyses, the study highlights the significant role of built environment characteristics, such as surveillance, the availability of safe shelters, and the proximity and reliability of transit services, in shaping women's perceived safety. Personal characteristics are also considered, with the length of local residency identified as the most influential individual factor. Based on these findings, the study recommends that policies aimed at enhancing women's perceived safety in public spaces prioritise improvements to surveillance infrastructure, safe shelters, and transit services.
本研究调查了影响女性在公共空间感知安全的各种因素的相对重要性。采用定量方法和现场拦截调查,我们的目标是在印度中等城市Udupi和Manipal的三个不同地点捕捉街道使用者的即时感知安全,每个地点都有独特的建筑环境特征。通过统计分析,该研究强调了建筑环境特征(如监控、安全庇护所的可用性、交通服务的邻近性和可靠性)在塑造妇女的安全感方面的重要作用。个人特征也被考虑在内,在当地居住的时间长短被认为是最具影响力的个人因素。基于这些发现,该研究建议,旨在提高女性在公共场所安全感的政策应优先考虑改善监控基础设施、安全庇护所和交通服务。
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引用次数: 0
Do the motivations behind home sales matter? Evidence from China's housing resale market 房屋销售背后的动机重要吗?证据来自中国的住房转售市场
IF 7 1区 经济学 Q1 DEVELOPMENT STUDIES Pub Date : 2025-10-19 DOI: 10.1016/j.habitatint.2025.103625
Yiqi Huang , Weida Kuang
Understanding seller motivations provides critical insights into housing market volatility and heterogeneous policy responses. Grounded in behavioral economics and life cycle theory, this study investigates how residential sellers' financial priorities influence transaction outcomes in China's resale housing market, with particular attention to policy interventions' moderating effects. Utilizing a unique transaction dataset encompassing 310,332 listings across 17 major Chinese cities (June 2016–October 2020), we establish three key findings: First, sellers driven by speculative and investment motives command 9 % and 4 % price premiums, respectively, while liquidity-constrained sellers accept 3 % lower transaction prices in exchange for 4 % faster sales. Second, sales motivations reflect cultural norms and demonstrate significant heterogeneity across seller demographics, housing segments and city locations. Third, exogenous shocks - particularly COVID-19 market contractions and Housing Purchase Restriction (HPR) policies - asymmetrically moderated motivational impacts: Short-term speculative motivation diminished due to dampening demand and price expectations while liquidity discounts intensified by 23 %, and long-term investment motivation was less affected, revealing loss aversion's differential operation across financial priorities. This study synthesizes adaptive expectations, cultural imperatives, and institutional shocks into a unified framework, advancing behavioral housing research while informing targeted policy design - suggesting that differentiated transaction taxes and liquidity facilities could more effectively balance market stability and household welfare than blanket restrictions.
了解卖方的动机可以为了解房地产市场的波动和不同的政策反应提供重要的见解。本研究以行为经济学和生命周期理论为基础,探讨了住宅卖家的财务优先级如何影响中国二手房市场的交易结果,并特别关注政策干预的调节作用。利用包含中国17个主要城市(2016年6月至2020年10月)的310,332套房源的独特交易数据集,我们得出了三个关键发现:首先,受投机和投资动机驱动的卖家分别获得9%和4%的价格溢价,而流动性受限的卖家接受3%的低交易价格,以换取4%的快销售。其次,销售动机反映了文化规范,并在卖方人口统计、住房细分和城市位置之间表现出显著的异质性。第三,外生冲击——特别是新冠肺炎市场收缩和住房限购政策——不对称地缓和了激励影响:由于需求和价格预期受到抑制,短期投机动机减弱,而流动性折扣加剧了23%,长期投资动机受到的影响较小,揭示了不同金融优先事项之间的损失厌恶差异操作。本研究将适应性预期、文化必要性和制度冲击综合到一个统一的框架中,在推进住房行为性研究的同时,为有针对性的政策设计提供信息——表明与一揽子限制相比,差异化交易税和流动性设施可以更有效地平衡市场稳定和家庭福利。
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