住房价格中地方公共品溢价的空间异质性及其影响因素研究:以成都市为例

Spatial Heterogeneity in Premium of Local Public Goods in House Price: A Case Study of Chengdu

已有众多学者的研究表明,教育和环境等地方公共品会显著资本化到周边的住房价格中,这种公共品的溢价效应是城市内住房价格空间差异的重要影响因素。更进一步的理论研究表明,某类地方公共品的溢价水平在空间上存在异质性,在居民对该公共品需求强度较高,而周边住房供给又较为短缺的区位,一个单位公共品的溢价效应会较高。本文基于成都市2006-2011年新建商品住宅项目的交易数据,应用空间计量经济学模型和GWR模型测度地方公共品溢价效应的存在性和空间异质性,发现"重点小学"和公园的溢价效应显著,且存在明显的空间异质性。在此基础上,我们从居民需求强度和住房供给对两类公共品溢价效应空间异质性的影响机制进行分析,并采用工具变量法克服住房供给与价格间的内生性。实证结果表明,需求强度和住房供给约束对异质性的影响符合理论预期。

There have been many scholars' researches indicating that local public goods such as education and green spaces are significantly capitalized into the prices of houses around them,and this premium of local public goods has a critical influence on the spatial difference of house price within cities. Further theoretical studies show that the premium of some local public goods has spatial heterogeneity,and will be higher in some area where residents' demand intensity is higher and housing supply is constraint. Based on the transaction data of newly built commercial housing projects from 2006 to 2011,this paper first examines the premium effect of local public goods and its heterogeneity employing GWR model. We find that premium of key primary schools and parks are significant and heterogeneity does exit. Based on that,we analyze the influencing mechanism of demand intensity and housing supply on the heterogeneity in premium of two kinds of public goods,using instrumental variable method to overcome the endogenous problem. Results show that the influence of demand intensity and housing supply constraints on heterogeneity conforms to the theoretical expectation.