Research On Willingness To Pay For Public Services And Effect Of Equalization Policy

This paper reviews the relevant research in the field of public service theory,and discusses the impact of public service equalization on people’s livelihood based on basic theories such as new institutional economic theory,public goods theory,new welfare economic theory,public goods choice theory,and education equity theory.In order to meet the basic survival and development needs of citizens at a certain stage of social development,the government mainly relies on a series of institutional measures to realize the welfare redistribution of public service resources among citizens,and to promote equal enjoyment of citizens.Therefore,as the research demand to solve the current problem of social equity within the city,deeply research on the equalization policy of public services can provide useful reference and suggestions for the reasonable supply and distribution of public policies.In view of this,this paper conducts an empirical study on three public service policies from the perspective of housing price capitalization,and detailly examines the housing price capitalization effect of public service policies.This research makes further contributions to enriching the theory of urban real estate in China.In view of this,the theoretical work and empirical research done in this paper are as follows:First of all,this paper defines the concept of public service equalization policy,education equalization policy and housing price capitalization,and emphasizes the importance of public service policy based on the related theory of public service.On the basis of summarizing the relevant research literature,this paper finds that studies on the capitalization of public service equalization policy are extremely scarce,which provides inspiration for this paper’s research ideas.Therefore,we select three public service policies for empirical research,in order to identify their policies effection.Secondly,as far as the public service household registration policy is concerned,this paper uses Nanjing’s special household registration policy for house purchase and combines the quasi-natural experiment method(RDD)to measure the household registration policy for house purchase and household registration.The results of the fourth chapter of this paper show that the value of the household registration benefits brought by the household registration policy will be reflected on the housing price,which indicates that the household registration policy has been capitalized into the housing price.The baseline findings quantify the additional premiums that households are willing to pay for hukou value benefits.In addition,depend on the perspective of supply and demand,we construct a differentiated household registration welfare distribution theory.Further empirical analysis has verified that the household registration value of a single minor is significantly higher than the adult household registration value.The important difference comes from Minors can enjoy the resources of household registration education resource.Therefore,education degree resources play an important role in the value of household registration and public service resources,and the research on education equalization policy has practical significance.Thirdly,Chapter 5 selects a policy of equalization of education,the policy of equal rights to rent and seller,and to verify the existence of the capitalization effect of housing price of this policy.Firstly we construct a model between the two markets of housing and renting,and find that consumers’ behavior of "buying switch to renting" under the policy.Drawing on the empirical research methods of foreign scholars,this chapter adopts an improved version of the difference-in-difference method to accurately identify the effect of the ―enjoyment of equitale rights by tenants‖ policy.The study found that ―enjoyment of eauitale rights by tenants‖ policy has a significant effect on the capitalization of housing prices for rent and buyer.However,the policy has regional heterogeneity,and the policy effect cannot play a role in balancing housing prices within high-quality school districts.Therefore,by increasing the investment of high-quality educational resources can improve the equilibrium level of housing prices in the real estate market,as well as the level of educational inequality among regions.Finally,in Chapter 6,this chapter conducts an in-depth study of a special comprehensive education degree adjustment policy.Suzhou Industrial Park released a new housing purchase degree policy,which stipulated that the degree recognition of all newly purchased houses(including resold house)in the park has changed from "one degree in five years" to "one degree in nine years".The sixth chapter empirical research adopts the traditional DID method to conduct an in-depth analysis of the "five to nine" degree policy.Especially for areas with low education level,the policy further widens the education gap between ordinary school districts and high-quality school districts.Therefore,the conclusion of this chapter implies that the government needs to choose appropriate areas to implement relevant education equalization measures according to the actual local education level and social development.The main innovations of this study are as follows:(1)Innovation in research perspectivesThe research on the housing price capitalization effect of public service policy in this paper is a useful supplement to the development of the theory of public service equalization.Secondly,the research on more education equalization policy effects complements the previous literature research,and further enriches the content of education equalization research.Finally,this paper studies public service policies from the perspective of demand,which can reflect residents’ consumption behavior of public service policies more truly.Therefore,the conclusions of this paper can provide important theoretical and data evidence for the government to formulate public service equalization policies.(2)Innovation in research theoryFirst of all,this paper conducts theoretical research on the value of public service household registration policy from the perspectives of supply and demand,which is a theoretical innovation of household registration research in the field of public services.Secondly,the fifth chapter of this paper builds a theoretical model which connects the rental and purchase markets,and deeply discusses the changes in consumers’ behavior of buying and renting houses in the housing market.This theory emphasizes the linkage effect between rent-purchase markets,and consumers’ rent-purchase decisions are also influenced by public service policies.This chapter provides a general analytical framework for public service policies and housing market changes,which further enriches the theory of public service equalization.(3)Improvement of research methodsThe paper uses an improved version of the DID method to identify the effect of the ―enjoyment of eauitale rights by tenants‖ policy.In the research content of Chapter 5,it is difficult to identify the effect of the ―enjoyment of eauitale rights by tenants‖ policy.Therefore,we draw on the research methods of scholars to improve the traditional difference-in-differences method,and then achieve an effective identification of the policy effection.Finally,this paper uses quasi-natural experimental research methods to accurately identify policy effects and reduce the endogeneity problem.This paper selects three quasi-natural experiments as the research objects,which can reduce the traditional endogeneity problem,and complement with other methods such as instrumental variable method.