Study On The Relationship Between Land Transfer And Economic Growth In China

As an economic behavior of local governments,there is a close relationship between land transfer and local economic development.The mechanism through which land transfer affects economic growth has been the focus of academic discussion in recent years.In theory,local governments develop the economy in two ways: large-scale transfer of industrial land through agreements,increasing the supply of land elements,and ultimately deepening the degree of industrialization and development of the local economy;on the other hand,high-priced bidding and auctioning for commercial and residential land,acquisitions huge income not only makes up for the cheap sale of industrial land,but also promotes the process of urbanization and promotes economic growth.As a booster of industrialization and urbanization,land transfer has enabled local governments to achieve investment promotion and urban expansion,and eventually form a land-oriented economic growth model.Based on the theoretical analysis,this paper further validates the relationship between land sales and economic growth through empirical analysis.Firstly,the land transfer area and land transfer price are introduced into the Cobb—Douglas production function,and the relationship between it and economic growth is estimated by regression.Second,using the estimation method of simultaneous equations to explore the role of land transfer through urbanization and industrialization: Mode(I)Assignment to Transfer Land Area-Assignment to Transfer Land Prices-Industrialization-Economic Growth;Mode(II)Land Transfer Area-Land Transfer Price-Urbanization-Economic Growth(Variables on mechanism of action establish corresponding simultaneous equations,it should be noted that the area of land transfer in Mode II refers to the total area of land transfer).Based on the regression analysis of the production function,the results are as follows:(1)In the eastern region,the estimated result of model(II)shows that the land transfer price plays a greater role,and the model(I)estimate shows that the land transfer area has a positive effect,that is to say land transfer in the eastern region plays an important role in industrialization and urbanization.(2)In the central region,the industrialization level will increase by 0.0002 percentage points for every 1 percentage point increase in the scale of industrial land sales in Mode(I).We can see that the role of large-scale transfer of industrial land through low prices in the central region does not have a significant effect on the development of industrialization at present,and ultimately it cannot effectively promote economic growth in the central region.The land transfer price and land transfer area in Mode(II)have a positive impact on urbanization.(3)In the western region,the results of the model(II)estimation show that the land transfer price and land transfer area both play a greater role,indicating that land transfer promotes economic development by promoting the development of urbanization.Under the background of economic development entering the new normal,the eastern region will adjust the structure of land use to adjust the industrial structure and realize industrial transformation and upgrading.The local governments in the central region strive to cultivate strategic emerging industries and continuously accelerate the process of new industrialization.The western region draws on successful land transfer strategies in the eastern region to promote the rapid development of western industrialization and urbanization.