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Determinants Of Urban Land Supply In China: How Do Political Factors Matter?, Wen-Tai Hsu, Xiaolu Li, Yang Tang, Jing Wu
Determinants Of Urban Land Supply In China: How Do Political Factors Matter?, Wen-Tai Hsu, Xiaolu Li, Yang Tang, Jing Wu
Research Collection School Of Economics
This paper explores two political factors for their potential effects on urban land supply in China: corruption, and competition for promotion. We find that standard urban economic predictions hold in the sense that both population and income increases are strongly significant determinants for the increase in urban land supply. Conditional on these demand-side factors, we find that the usage of two-stage auctions (as a proxy for corruption) is highly correlated with the increase in land supply. The corruption effects are strongest for commercial land, followed by residential land and then industrial land. To shed light on the competition motives among …
Determinants Of Urban Land Supply In People's Republic Of China: How Do Political Factors Matter?, Wen-Tai Hsu, Xiaolu Li, Yang Tang, Jing Wu
Determinants Of Urban Land Supply In People's Republic Of China: How Do Political Factors Matter?, Wen-Tai Hsu, Xiaolu Li, Yang Tang, Jing Wu
Research Collection School Of Economics
This paper explores whether and how corruption and competition-for-promotion motives affect urban land supply in the People's Republic of China. Conditional on demand-side factors, we find that corruption is highly correlated with an increase in land supply. The corruption effects are strongest for commercial land, followed by residential land, and then industrial land. To shed light on the competition motives among prefectural leaders, we examine how the number of years in office affects land supply and distinguish among different hypotheses. Our empirical results show robust rising trends in land sales. These results are consistent with the hypothesis that among prefectural …