Research On The Impact Of Housing Price And Population Agglomeration On Urban Innovation Ability

Technology innovation has steadily evolved into the cornerstone of advancing China’s economic development and enhancing the core competitiveness of cities,thanks to the knowledge economy’s vigorous development and the regional economy’s rapid change.Large cities are frequently the hubs of invention,enhancing a city’s capacity for innovation is essential to its sustainable growth.The choices made by businesses,governments,markets,etc.can have a significant impact on the overall implementation of innovation-driven development because real estate is a key sector of the national economy and the population makes up the bulk of economic and social activity.With increasing levels of urbanization,the phenomenon of house price fluctuation and population agglomeration is increasingly prominent,the policy propaganda of "housing and housing without speculation" and "talent introduction" is deeply rooted in people’s hearts.Under such development status and era,it is important to study the impact of housing price and population concentration on urban innovation and the regional heterogeneity of the impact for the synergistic development and innovation efficiency improvement of each city.Based on the research philosophy of "formulate a question,analyze the problem,solve the problem,and draw conclusions",this paper has carried out in-depth discussion and put housing price,population agglomeration and urban innovation into the same research framework.Based on the above situation,this paper proposes the question to be studied in this paper: How do housing prices affect urban innovation?How does population agglomeration affect urban innovation? Is there an interactive relationship between house price and population agglomeration? Is there a non-linear relationship between housing price and urban innovation,population agglomeration and urban innovation? This paper investigates this issue.Firstly,starting from the research background and significance of the study,we summarize and structure the relevant literature according to the problem statement and elaborate on the current state of development.Based on theoretical foundations and impact mechanisms,we explore the transmission mechanisms of the impact of housing prices on urban innovation from crowding-out and wealth effects,and the transmission mechanisms of the impact of population agglomeration on urban innovation from economies of scale and knowledge spillover effects.We also analyze the transmission mechanism of the interaction between housing prices and population agglomeration on urban innovation to formulate the research hypothesis of this paper.Secondly,this paper empirically analyzes the impact of housing prices based on relevant data for 70 large and medium-sized cities across China from 2010 to 2019.population agglomeration and their interaction on urban innovation capacity through the fixed effect model,classifies cities by grade,and carries out heterogeneity analysis to explore the differential effects of housing prices and population agglomeration on urban innovation under different urban development levels,and then uses 2SLS model to carry out endogenous test,To prove the robustness of the conclusion.Furthermore,we incorporate housing prices,population agglomeration,and urban innovation into the same analytical framework and introduce a panel threshold model to explore the nonlinear relationship between population agglomeration and urban innovation capacity with housing prices as the threshold variable and housing prices and urban innovation capacity with population agglomeration as the threshold variable,respectively,to verify the combined effect of the interaction between house prices and population clustering on urban innovation.Finally,based on the theoretical and empirical analysis,the conclusions of this paper are summarized as follows.(1)From a national perspective,both house price and population agglomeration significantly promote urban innovation,and the impact of population agglomeration on urban innovation is more elastic,and the interaction between house price and population agglomeration has a positive impact on urban innovation.(2)From the perspective of hierarchical cities,housing prices have different impacts on cities of different levels,significantly inhibiting the improvement of innovation capacity of first-tier cities,and significantly promoting the innovation capacity of second-tier,third-tier and fourth-tier cities;Population agglomeration has significantly promoted the innovation capacity of first-tier,second-tier,third-tier and fourth-tier cities,and the effects are most pronounced in first-tier cities.(3)The results of the additional threshold model show that the impact of housing prices on urban innovation has a double threshold effect with population agglomeration as the threshold variable,that there is a nonlinear relationship between housing prices and urban innovation,that population agglomeration can positively regulate the impact of housing prices on urban innovation,and that population agglomeration has an urban innovation,there is a single threshold effect with housing prices as the threshold variable,and there is also a nonlinear relationship between population agglomeration and urban innovation.The impact of population agglomeration on urban innovation has a single-threshold effect with housing prices as the threshold variable,indicating that there is also a nonlinear relationship between population agglomeration and urban innovation.The interaction between housing prices and population concentration is again verified to have a positive compounding effect on urban innovation.Thus,the synergistic development of housing prices and population plays an important role in promoting the level of urban innovation.Based on the above findings,corresponding measures are proposed in this paper.