Land Price Distortion, Financial Development, and Regional Innovation
As an important tool for local governments to implement regional development policies, the allocation of land resource plays an important role in promoting regional innovation and development. Based on the microdata of land transfer in 287 cities in China from 2007 to 2017, this study examines the r...
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| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
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Wiley
2022-01-01
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| Series: | Discrete Dynamics in Nature and Society |
| Online Access: | http://dx.doi.org/10.1155/2022/6996898 |
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| author | Pengcheng Zhou Ruiqi Qin Baitang Luo Hao Wen |
| author_facet | Pengcheng Zhou Ruiqi Qin Baitang Luo Hao Wen |
| author_sort | Pengcheng Zhou |
| collection | DOAJ |
| description | As an important tool for local governments to implement regional development policies, the allocation of land resource plays an important role in promoting regional innovation and development. Based on the microdata of land transfer in 287 cities in China from 2007 to 2017, this study examines the relationship between land price distortion, regional financial development, and regional innovation ability. The results show that land price distortion promotes the improvement of regional innovation ability. There is a significant time-lag effect because it is mainly realized by increasing the fiscal revenue of local governments and providing implicit subsidies to enterprises. The larger the financial scale is, the better the financial structure is and the higher the financial efficiency will further strengthen such a positive effect. Further analysis shows that the impact of land price distortion on improving regional innovation ability is significantly different between central or western regions and the eastern regions. This study provides empirical evidence for promoting regional innovation ability by land price distortion, which is conducive to a better understanding of the importance of reasonable land resource allocation and financial market development in the process of high-quality economic development, providing a useful insight into China’s future reform of land market and financial market. |
| format | Article |
| id | doaj-art-afcb2944c6cc45dba3824f39a61f3219 |
| institution | Kabale University |
| issn | 1607-887X |
| language | English |
| publishDate | 2022-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | Discrete Dynamics in Nature and Society |
| spelling | doaj-art-afcb2944c6cc45dba3824f39a61f32192025-02-03T05:53:50ZengWileyDiscrete Dynamics in Nature and Society1607-887X2022-01-01202210.1155/2022/6996898Land Price Distortion, Financial Development, and Regional InnovationPengcheng Zhou0Ruiqi Qin1Baitang Luo2Hao Wen3Management CollegeSchool of FinanceHSBC Business SchoolSchool of Business and AdministrationAs an important tool for local governments to implement regional development policies, the allocation of land resource plays an important role in promoting regional innovation and development. Based on the microdata of land transfer in 287 cities in China from 2007 to 2017, this study examines the relationship between land price distortion, regional financial development, and regional innovation ability. The results show that land price distortion promotes the improvement of regional innovation ability. There is a significant time-lag effect because it is mainly realized by increasing the fiscal revenue of local governments and providing implicit subsidies to enterprises. The larger the financial scale is, the better the financial structure is and the higher the financial efficiency will further strengthen such a positive effect. Further analysis shows that the impact of land price distortion on improving regional innovation ability is significantly different between central or western regions and the eastern regions. This study provides empirical evidence for promoting regional innovation ability by land price distortion, which is conducive to a better understanding of the importance of reasonable land resource allocation and financial market development in the process of high-quality economic development, providing a useful insight into China’s future reform of land market and financial market.http://dx.doi.org/10.1155/2022/6996898 |
| spellingShingle | Pengcheng Zhou Ruiqi Qin Baitang Luo Hao Wen Land Price Distortion, Financial Development, and Regional Innovation Discrete Dynamics in Nature and Society |
| title | Land Price Distortion, Financial Development, and Regional Innovation |
| title_full | Land Price Distortion, Financial Development, and Regional Innovation |
| title_fullStr | Land Price Distortion, Financial Development, and Regional Innovation |
| title_full_unstemmed | Land Price Distortion, Financial Development, and Regional Innovation |
| title_short | Land Price Distortion, Financial Development, and Regional Innovation |
| title_sort | land price distortion financial development and regional innovation |
| url | http://dx.doi.org/10.1155/2022/6996898 |
| work_keys_str_mv | AT pengchengzhou landpricedistortionfinancialdevelopmentandregionalinnovation AT ruiqiqin landpricedistortionfinancialdevelopmentandregionalinnovation AT baitangluo landpricedistortionfinancialdevelopmentandregionalinnovation AT haowen landpricedistortionfinancialdevelopmentandregionalinnovation |