行政中心的“土地溢价”效应——来自中国地方政府驻地迁移的证据

The"Land Premium"Effect of Administrative Center-Evidence from China's Local Government Relocation Reforms

基于2002—2019年中国地方政府驻地迁移信息及土地出让数据,本文在“城市-年份-地理距离”维度构建了三重差分模型,识别了行政中心的“土地溢价”效应。研究发现:随着与政府驻地距离变近,单位土地价格显著提高,即中国行政中心的“土地溢价”效应显著存在。影响机制分析发现,地方行政中心的迁入会增加周边区域交通基础设施建设、人口和产业集聚,最终提升了土地的经济价值;与此同时,地方政府对土地重视程度会削弱距离变远导致的地价下降影响。本研究将有利于更深入地理解中国土地市场价格形成的政治诱因,并为地方政府驻地迁移的经济影响提供来自土地要素市场的解释。

Based on the local government relocation reforms and the land transfer data in China from 2002 to 2019,we build a triple differences model to identify the"land premium"effect of the administra-tive center.The results show that:On average,as the geographical distance from the government station gets closer,the unit land price increases significantly,that is,the"Land Premium"effect of administra-tive center is significant.The mechanism is that administrative centers increase transportation infrastruc-ture,population and industrial agglomeration,meanwhile,the emphasis on land can weaken the impact of land price decline caused by distance increasing.