不同程度土地资本化对经济增长的影响

The Impacts of Land Capitalization in Different Degrees on Economic Growth

研究目的:揭示土地资本化与经济增长的长期关系与相互作用机制。研究方法:理论分析与实证分析相结合。研究结果:土地资本化对投资水平、技术进步与经济增长都具有预测能力,土地资本化对经济增长先正后负的影响是由于投资和技术进步的中介作用;短期看,土地资本化一定程度上促进了投资,推动了经济增长;长期看,土地过度资本化形成了投资锁定,挤出了技术进步,制约了经济增长。研究结论:在中国特殊的政治经济体制和土地产权制度安排下,土地资本化造就了政府主导的投资依赖型经济增长模式,经济整体陷入外延增长,制约了技术进步与创新活动,不利于经济长期可持续发展。解决土地过度资本化问题,是中国未来经济持续健康发展的关键。

The purpose of this paper is to reveal the long-term relationship and interaction mechanism between land capitalization and economic growth.The methods employed are theoretical analysis and empirical analysis.The results show that land capitalization can predict investment level,technological progress and economic growth,and the positive and negative effects of land capitalization on economic growth are due to the intermediary roles of investment and technological progress.In the short run,land capitalization promotes investment and economic growth to some extent;in the long run,excessive land capitalization exerts a lock-in effect on investment,which squeezes out technological advances and constrains economic growth.In conclusion,under China’s special political and economic system and land property rights system,land capitalization creates a government-led investment-dependent economic growth model,and the overall economic growth has fallen into extensive growth,restricted technological progress and innovation activities,which is not conducive to long-term sustainable economic growth.To solve the problem of excessive land capitalization is the key to the sustainable and healthy development of China’s economy in the future.