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STUDY ON THE SPATIO-TEMPORAL DIFFERENCES OF THE IMPACT OF EDUCATIONAL RESOURCE ALLOCATION ON HOUSING PRICE: TAKING 35 LARGE AND MEDIUM CITIES AS EXAMPLES |
YAN Li-gang1, HAN Zheng-long2, LIU Di3 |
1. School of Literature and Journalism, Central South University, Changsha 410083, China;
2. Business School, Ningbo University, Ningbo 315211, China;
3. School of Public Economics and Management, Shanghai University of Finance and Economics, Shanghai 200433, China |
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Abstract Since the housing market reform, the problem of high housing prices has always plagued all sectors of society, gradually becoming an important constraint on maintaining economic stability, optimizing the industrial structure, and starting domestic consumption. With the acceleration of the urban circle and urbanization, the overall improvement of the population carrying capacity of metropolises and the optimization of the government's provision of public goods have become the focus of public attention today. Based on the data of 35 large and medium cities from 2002 to 2017, and using the Rosen-Roback urban spatial equilibrium model to measure the difference in the impact of educational resources on housing prices in large and medium cities. The study finds that:1) after controlling other variables, each 1% increase in the level of education expenditures increases the housing price level by an average of 0.156 percentage points; 2) in the spatial dimension, the impact of education resources on housing prices in coastal cities is significantly less than Inland cities; 3) In terms of time, the impact of educational resources on housing prices is significant in all periods, indicating that the impact of educational resources has a long-term impact.
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Received: 25 March 2019
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