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Economic Analysis Of Land Banking

Posted on:2009-08-07Degree:DoctorType:Dissertation
Country:ChinaCandidate:M H LiuFull Text:PDF
GTID:1119360242497065Subject:Use of agricultural resources
Abstract/Summary:PDF Full Text Request
Dual-System of Urban & Rural of land property right is becoming the bottleneck affecting economic development of China. As a great innovation of city land use right, it is a problem we have to resolve how to remedy the failure of land property right system by reforming land value increment distribution under the dual-system of urban & rural of land property right constraint. In some degrees, if we can not fill a gap of land value increment distribution with market transactions in the form of the bargain, we can not get successes in the innovation of city land use right system. It is a far-reaching significance for China to answer Power Mechanism of the evolution character of land banking system, the law of Land value be incremented and therefore direct the land value increment distribution in city.With the rapid economic development, population and industry agglomeration, the contradiction between ever-growing land demand for urban construction with limited in number of land resource will be more serious. At present, land banking system has become a more and more important means for rational land use and land configuration optimizing. It has been put into practice in many cities. However, there are 2 basic problems in the process of the system coming into effect. One is the oriented effect of capital, i.e. the area and location of land reserve are usually determined and/or disturbed by the capital requirement of urban government. The other is the investment requirement, i.e. the area and location of land reserve are usually determined and/or disturbed by the investment requirement from investors.With the continuous development of urban construction and land assets increasingly apparent effect, some local governments in the "business city" slogan, regardless of the reality needs, but also ignored urban planning, blindly pursue the aim of improving the welfare sector shortcut through Land acquisition. Urban land reserve gradually deviates from its real purpose to "adjust and control the storage of urban land" and degenerates into a tool "to seek maximum profits by local governments by way of buying at a low price and selling at a high price." To solve the problems above, analysis of this paper tries to begin with five aspects: analysis the power mechanism of land banking system (LBS) base on demand and benefit theory, study of the reserve land demand and supply forecasting so as to make land banking plan based on utilizing land economically and intensively and study of how to choose the plot and how to evolution the value of reserve land. The achievements are as follows:(1) The analysis of Power Mechanism of land banking system (LBS).To explore the Power Mechanism of land banking system (LBS) so as to grasp the strategy aims in process of development and change. Demand and benefit theory is employed in this paper. A power function model of land banking base on demand and benefit theory is formulated. Research shows that the productive development is the ultimate power of the system change and the social progress. Contradictory Conflict of every one and group's benefit is the direct reason. External Effects and Incentives impact the process and development of LBS. In the practice of perfection in LBS, some corresponding measures should be adopted to reduce and avoid the occurrence of negative effects. We should strengthen the function in micro control and regulation of the land market of land banking.By analysis of land banking impact on land market and land price, we found that rational land reserve action can help not only for adjusting the wrong price, expediting tangible market construction of land and having a positive effect on market mechanism, but also bring some system risk. Some measures must be taken to monitor and manage the whole land market, to transfer rural agricultural land into state ownership land by market means, to clear the target and aims orientation, to control the cost, and reduce the risk in the process of banking land etc.(2) Analyzing the reason of the land value incrementAfter analyzing the reason of the land value increment by land economics principal, the land value increment function was built. The main land value increment factors are the time, location, supply and demand, utility and property. It can be used to explain the land value increment Mechanism of reserve land. Based on the theory of Sustainable Development, a newly method to computer compensation standard was offered. Land value increment during the process of land banking can be divided into two parts, the comparative value increment and public value increment .The computer model of land value increment was formulated.Some analysis tool was used including Excel and SPSS software. According the market statistic data of Land Development Corporation (LDC)from 2003-2007 in Chongqing, the comparative value increment profits which were the interests of farmers robbed by local government is about 46%,and public value increment is 54%.It is concluded that the current land taking compensation system severely encroach farmers interest, and the central government should reform land acquisition system further. The research results show that land banking system continues the path of low cost urbanization in China. Peasant rights and interest was damaged seriously in land acquisition system, it is reasonable to pay off losing-land peasant a half of pure profits of land value increment in the process of urbanization. A part of another half can be used to Agriculture, rural areas and farmers. (3) The prediction methods on moderate scale of land bankingAccording the reserve formal, the land banking scale was divided into control scale and development scale. Land banking may help but not always to promote construction land utilizing economically and intensively. Firstly, a prediction methods on control scale of land banking was illustrated. There three basic steps, including forecasting Construction Land demand scale and supply scale, valuing the potential of land utilization economically and intensively, and predicting the addition and present situation scale of land banking.As a case of Metropolitan Area in Chongqing, the land banking control scale was predicted using land data of chongqing from 1997-2007, census data and land market bargain data. The resultshows that the Supply scale of land of Incremental land was 16657.42 hm~2 . Supply scale of land ofstock land was 23462.58 hm~2; control scale for land banking was 40120 hm~2. The paper argue thatthe decision -making of land banking need directed by conception of land utilization economically and intensively. Bank land as an instrument of micro control, it need not only to regulate the supply of land but also the demand. The control scale of land banking based on land utilization economically and intensively can be used to direct the demand of construction land in urban from incremental land to stock land.Besides this, the research also shows a method that can be used to forecast reserve land demand scale and formulate suitable plan of reserve land. As a case of Metropolitan Area in Chongqing, this paper forecast the real estate land demand based on the population and urbanization being valued. At the same time, supply constraints the demand like a bottleneck, the paper analysis the potential of reserve land in Metropolitan Area. The suitable scale model was discussed, and land reserve scale was forecasted in Metropolitan Area of Chongqing. Finally, the method to divide the land reserve plan by year and the task of land reserve was discussed.The result shows that real estate land demand per year from 2006-2020 is 1014.20 hm~2, butthe supply scale is 943hm~2 according Urban Master Plan and Master Plan of Land Use in Chongqing. Through analysis of land suit for supply, subtract the stock construction land in urban and the land have been reserved , the rest part of land can be used for supply is 11128.38 hm~2,i.e.the supply scale can be used for real estate land is 700 hm~2 per year.On condition (that) the known supply-demand as above and known period of real estate development is 2 years, the suitable scale of land banking can be calculated by Fisher Equation. development scale is 2400 hm~2 . Generally,forecast techniques introduced here are simple, but they have far-reaching significance to lead city land development and to urge city sustainable development, and they can be valuable and reliable for many urban regions.(4)With 600km~2 of metropolitan area in Chongqing as study sites, the potential plot was chosewith recognition of remote sensing images, and the economic value was evaluated by using GIS software and incremental price was valued on the basis of different maps, such as land use map, traffic map and population distribution map 1:20000. Basing on the definition of land banking economic evaluation, this paper brings forward the basic principle of choosing integrated evaluation indices, and integrates them into a unit index system using quantitative methods. 10 indicators are chosen in the integrated index system.As a case of Yuzhong district in Chongqing, as view of capital circulation and balance of state revenue and expenditures, a plan of stock land banking and old city rebuilding was made. The results shows that the GIS software can resolve the problem of economic value and offer a useful tool for land banking decision.
Keywords/Search Tags:Land Banking System, Economic Analysis, Value Increment Mechanism, Moderate Scale, Profit Distribution
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