Research On The Impact Of Public Service Supply Level On Housing Price

At present,China is in an important stage of rapid economic development and urbanization.The scale of population movement is increasing and the speed of population's flowing is becoming faster and faster,while the population's flowing means the re-distribution of hoursing demand.The local government's supply of public services has an important impact on the real estate market by influencing the population's flowing and urbanization choice.So then the uneven supply of regional public service has furtherly exacerbated the differentiation of China's real estate market.Therefore,the research on the impact of public service supply level on China's housing prices and to rediscove the mismatch bettween supply and demand in the real estate market and make a plausible explanation for the differentiation of the present real estate market,then make the policy Implication for the regulation of real estate market through the perspective of equalization of public service supply.This paper choose the impact of public service provision on hoursing prices as the research subject,and mainly analyzes the domestic real estate market differentiation impacted by the inequality of public service supply,and makes use the sample data of domestic 286 prefecture level and above cities to carry out the research.Before the empirical analysis,this paper firstly introduces the research background,research significance and the related research results among domestic and foreign countries.and then is the define and review of the related concepts and theories in this paper.On this foundation,this paper analyzes the theoretical mechanism of the impact of the level of public service supply on housing prices,and puts forward the corresponding theoretical assumptions,then is the model construction for the paper's empirical analysis.After that,this paper begins the empirical analysis in the fourth chapter,the first step is the choice of the sample data,the selection of variables is described and the data statistical description of the empirical study.Then by 2004 to 2014 286 prefecture level and above cities's panel data to conduct the empirical analysis.In the process of empirical analysis,this paper makes regression analysis of sample data from the national level,demonstrates that the role of public service supply level has a significant impact on prices.Then this paper classifies the sample data,respectively,from the regional level of east,central west regions,and high-price cities,middle-price cities and low-price cities in the city level to carry on the empirical analysis research,the results Indicate that the effect of the supply of public services on housing prices are shows a large regional differences,and the differences among the cities of high,middle and low prices is more obvious than that in the city of East,middle and west regions.This demonstrates that the uneven supply of public services leads to the mismatche of the housing supply and housing demands,the uneven supply of public services is one of the important reasons for the current differentiation in the real estate market.At the same time,in order to ensure the robustness of the estimation results,this paper establishes a dynamic panel model,using the GMM to enhance the robustness of the estimation results.Finally,according to the empirical results this paper makes the conclusions of the research and puts forward the corresponding policy implications,this paper thinks that in the future process of the urbanization,the regional equalization of public service among the cities is one of the real estate market policy choices to resolve the differentiation and promote the healthy and sustainable development of the real estate market.The specific policies include to perfect the system of current financial supervision in China,accelerate the development of the real estate tax collection system;taking fiscal policies and industrial policies that tilt to small and medium cities in west and central regions,thus enhancing the level of local supply of public services in these areas,and then guide the population flowings and urbanization choice,resolving the contradiction and dismatch among the housing demand and housing supply in the city space in our country,which fundamentally alleviate rising hourse price in the big cities and the surplus pressure in small cities.At the same time,in view of the shortcomings of this study,this paper also prospects for the further research.