Research On The Effect Of Housing Price Increasing On Inclusive Green Growth In Urban Clusters

Since the reform and opening up,China’s economy has achieved rapid growth and leapfrog development relying on the extensive growth mode.However,due to the lack of “inclusiveness” and “green”,it also leads to a series of problems,such as shortage of resources,environmental pollution,large income distribution gap and so on.The “fourteenth five year plan” puts emphasis on promoting the overall green transformation of economy and society.The practice of inclusive green growth mode is not only a profound practice of the overall green transformation of economy and society,but also an important way to promote high-quality economic development.However,as an important industry in the development of national economy,the housing price increasing has a significant impact on the people’s livelihood inclusiveness,green ecological transformation of economic growth.With the construction of the Yangtze River Economic Belt,the integrated development of the Yangtze River Delta,the construction of Guangdong-Hong Kong-Macao Greater Bay Area and other series of strategies proposed,under the realistic background of high housing price,the improvement of the inclusive green growth level of the Yangtze River Delta and the Pearl River Delta has important practical significance for regional high-quality development.According to the theoretical mechanism analysis of the impact of house price increasing on inclusive green growth,based on the panel data of prefecture-level cities from 2004 to 2017,this paper comprehensively uses the fixed base range entropy weight method,Kernel density estimation,Dagum Gini coefficient and convergence model to analyze the spatial-temporal evolution,distribution dynamics,regional difference and convergence of inclusive green growth in the Yangtze River Delta and the Pearl River Delta.Besides,this paper empirically tests the relationship between housing price increasing and inclusive green growth,explores its heterogeneity effect based on the extended analysis of different types of group review,and analyzes its mechanism.The specific research results are as follows:(1)The inclusive green growth level of the Pearl River Delta is much higher than that of the Yangtze River Delta,both of which are on the rise,but the annual growth rate of the Yangtze River Delta is higher than that of the Pearl River Delta.The inclusive green growth level of the Yangtze River Delta and the Pearl River Delta has no polarization or multipolar differentiation trend,and the regional relative differences are the main sources of its overall spatial differences.The inclusive green growth level shows typical σ convergence and absolute β convergence in the Yangtze River Delta and Pearl River Delta,and the Yangtze River Delta is obviously catching up with the Pearl River Delta.(2)Based on the empirical data,this paper depicts the evolution trend of housing price increasing and inclusive green growth,and finds that: when the housing price rises moderately,the inclusive green growth level will generally maintain the same growth trend;when the housing price rises excessively,the inclusive green growth level will generally show a reverse downward trend or still maintain the overall growth,but the growth rate is lower than before.(3)No matter in the whole sample,or in the Yangtze River Delta or Pearl River Delta sample,the empirical result shows that there is an inverted “U” curve relationship between housing price increasing and inclusive green growth,and it has passed the inflection point.In addition,the technological innovation,government intervention,human capital and industrial structure upgrading have a significant positive effect on convergence of inclusive green growth of urban clusters,and the degree of opening to the outside world show the effect of pollution shelter effect.(4)The impact of housing price increasing on inclusive green growth has regional heterogeneity.Firstly,as far as the level of housing price is concerned,it has a significant inhibitory effect in high housing price cities and a significant promoting effect in low housing price cities;secondly,as far as the level of inclusive green growth is concerned,it has an inverted “U” curve relationship in high growth cities and no significant effect in low growth cities;thirdly,considering the level of housing price and inclusive green growth,it is a significant inhibition in high housing price and high growth cities,and significant promotion in low housing price and high growth cities,while no significant impact in low housing price and low growth cities;finally,as far as the city scale is concerned,it has a significant negative impact in super big cities,an inverted “U” relationship in big cities and no significant impact in small and medium-sized cities.(5)The housing price increasing will affect inclusive green growth through influencing economic development and social security expenditure.Among them,the housing price increasing has an inverted “U” impact effect on the economic development level,while the improvement of economic development level will promote the level of inclusive green growth;the housing price increasing has a positive impact on social security expenditure,and the increase of social security expenditure can significantly promote the improvement of inclusive green growth level.In a word,the inverted U-shaped relationship between housing price increasing and inclusive green growth is realized through economic development and social security expenditure.Based on the above research conclusions,this paper puts forward specific policy suggestions from six aspects,such as adhering to the orientation of “housing without speculation” and solving the prominent housing problems in big cities;adhering to the guidance of scientific and technological innovation and improving the ability of urban technological innovation;breaking down the barriers of talent flow and improving the level of urban human capital;scientifically formulating industrial policies and promoting the upgrading of urban industrial structure;paying attention to the quality level of foreign investment and giving play to the technology spillover effect of foreign enterprises;optimizing the structure of financial expenditure and increasing urban social security expenditure.