财政分权对我国城市房价的影响机理

Research on the Influence Mechanism of Fiscal Decentralization on Chinese Urban Housing Prices

该文以分税制改革为切入点,将财政分权、土地财政及房价纳入同一理论框架,运用逻辑分析方法对财政分权制度影响房价的直接和间接机制进行探究,得出如下结论:财政分权加剧了地方政府对房地产业的依赖,从而对房价产生了正向溢出效应;财政分权还会通过土地财政这一中介变量而对房价产生间接正效应。

The influence of Chinese institutional factors on housing prices should not be overlooked. The paper, from the perspective of tax--sharing reform, studies the direct and indirect mechanism of fiscal decentralization on housing prices by integrating fiscal decentralization, land finance and housing prices into the same framework. It is concluded that the fiscal decentralization intensifies the dependence of local government on the real estate industry, which has a positive spillover effect on housing prices. Moreover, the fiscal decentralization also has an indirect positive effect on housing prices via the mediating variable of land finance.