{"title":"中国城市房地产市场繁荣:城市创业是福还是祸?","authors":"Yuhua Wang, Fox Zhiyong Hu","doi":"10.1080/17516234.2021.1976984","DOIUrl":null,"url":null,"abstract":"ABSTRACT This paper is aimed at exploring whether high housing prices constitute a boon or a bane for entrepreneurship in Chinese cities. Drawing upon a panel dataset for Chinese cities at the prefectural level and above for the period 2003 to 2016, this paper identifies an inverted U-shape pattern of association between housing price and urban entrepreneurship. It also finds significant inter-city housing price spillovers in first-tier urban agglomerations in which a housing price surge in first-tier cities has an inverted U-shape relationship with entrepreneurship in surrounding cities. The empirical results of this study act as a reminder to Chinese policy makers to adopt a cautious and balanced attitude towards the development of the real estate market and have important policy implications for the planning and governance of mega urban agglomerations in China.","PeriodicalId":45051,"journal":{"name":"Journal of Asian Public Policy","volume":null,"pages":null},"PeriodicalIF":1.5000,"publicationDate":"2021-09-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"2","resultStr":"{\"title\":\"Housing market booms in Chinese cities: boon or bane for urban entrepreneurship?\",\"authors\":\"Yuhua Wang, Fox Zhiyong Hu\",\"doi\":\"10.1080/17516234.2021.1976984\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"ABSTRACT This paper is aimed at exploring whether high housing prices constitute a boon or a bane for entrepreneurship in Chinese cities. Drawing upon a panel dataset for Chinese cities at the prefectural level and above for the period 2003 to 2016, this paper identifies an inverted U-shape pattern of association between housing price and urban entrepreneurship. It also finds significant inter-city housing price spillovers in first-tier urban agglomerations in which a housing price surge in first-tier cities has an inverted U-shape relationship with entrepreneurship in surrounding cities. The empirical results of this study act as a reminder to Chinese policy makers to adopt a cautious and balanced attitude towards the development of the real estate market and have important policy implications for the planning and governance of mega urban agglomerations in China.\",\"PeriodicalId\":45051,\"journal\":{\"name\":\"Journal of Asian Public Policy\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":1.5000,\"publicationDate\":\"2021-09-08\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"2\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Journal of Asian Public Policy\",\"FirstCategoryId\":\"90\",\"ListUrlMain\":\"https://doi.org/10.1080/17516234.2021.1976984\",\"RegionNum\":3,\"RegionCategory\":\"社会学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"AREA STUDIES\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Asian Public Policy","FirstCategoryId":"90","ListUrlMain":"https://doi.org/10.1080/17516234.2021.1976984","RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"AREA STUDIES","Score":null,"Total":0}
Housing market booms in Chinese cities: boon or bane for urban entrepreneurship?
ABSTRACT This paper is aimed at exploring whether high housing prices constitute a boon or a bane for entrepreneurship in Chinese cities. Drawing upon a panel dataset for Chinese cities at the prefectural level and above for the period 2003 to 2016, this paper identifies an inverted U-shape pattern of association between housing price and urban entrepreneurship. It also finds significant inter-city housing price spillovers in first-tier urban agglomerations in which a housing price surge in first-tier cities has an inverted U-shape relationship with entrepreneurship in surrounding cities. The empirical results of this study act as a reminder to Chinese policy makers to adopt a cautious and balanced attitude towards the development of the real estate market and have important policy implications for the planning and governance of mega urban agglomerations in China.
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