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http://dx.doi.org/10.5392/JKCA.2021.21.12.337

The Impact of Government Development Policy on Land Investment and Land Price: Evidences from Linyi  

Zhong, Shengyang (건국대학교 일반대학원 부동산학과)
Zheng, Ziyang (건국대학교 일반대학원 부동산학과)
Liu, Zhao (건국대학교 일반대학원 부동산학과)
Publication Information
The Journal of the Korea Contents Association / v.21, no.12, 2021 , pp. 337-347 More about this Journal
Abstract
Land is key natural resource that Chinese government actually owns. Real estate and land development have played an important part in China's urban development and economic development. The Chinese local governments' land development policies can mainly be characterized as the establishment of economic development zones and the development of new towns. Given the great importance of these measures, we can expect that these policies can generate noticeable impacts on land development and land price. However, little research has explored these impacts empirically. Using the data collected from land development projects of three districts in Linyi city-old town, new town, economic development zone, this paper attempts to investigate the impact of government development policy on land development and land price. This research chooses investment amount and land price as dependent variables. The multiple regression results demonstrate that the local government's land Development policies can affect land investment size and land price significantly. As we have noticed, the target of government development policy is to make use of urban land resources more scientifically and efficiently. Based on my empirical analysis, some useful insights can be provided for improving our understanding concerning the effects of these government land development policies.
Keywords
Government Policy; Land Investment; Economic Development Zone; New Town;
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