SPATIAL DIFFERENTIATION OF LAND TRANSFER——Case Study of Shanghai, Nanjing and Taizhou in Changjiang River Delta

The policy of land transfer has greatly influenced the macro economy of China with the commencement of another innovation of land use system. Therefore, it is urgent to put forward some rational and feasible suggestions for local government to manage the market of land transfer. Moreover, it is important in the field of study on agricultural land use change to analyze the spatial differentiation and structural specification of land transfer, which are caused by rural households＇ behavior. This paper selected I l factors covering four aspects of rural households＇ family structure, family location, family income structure and the natural quality of land resources, all of which influence the behavior differentiation of rural households, to establish the index model indicating spatial differentiation of land transfer. Results show that the spatial differentiation of land transfer can be divided into four degrees and three categories through analyzing rural households＇ questionnaires from Shanghai, Nanjing and Taizhou in the Changjiang （Yangtze） River Delta. Since up to 80% of rural households belong to middle degrees, it can be concluded that the rural land market develops evenly in the study areas. And it is also indicated that the natural quality of land resources and the maximum income of rural land are most important factors influencing the spatial differentiation of land transaction. Considering different factors, the countermeasures can be carried out to enhance the spatial differentiation of land transfer so as to promote economic development and social security of rural China. All in all, both micro- factors and macro-factors influencing rural households＇ behavior of rural land transfer should be taken into account in order to make spatial differentiation and structural specification of rural land transfer notable.

Policy uncertainty and land transaction prices in China

Economic policy uncertainty has prominent effects on investment and output.Using unique transaction-level data in China,this paper explores the impact of economic policy uncertainty on land transaction premiums in China.On average,a 1%increase in the policy uncertainty level reduces land transaction premiums by 3.907 percentage points.The impact of policy uncertainty is more profound for firms with tighter financial constraints and land located in cities with lower rent-to-price ratios.The influence of policy uncertainty becomes weaker after the anti-corruption campaign in China,especially in provinces scrutinised by the central inspection teams,implying that improvements in the political environment alleviates the impact of policy uncertainty.