| With the enhances of industrialization and urbanization in China,as an important area of China's economic activities since the reform and opening,the city is not only an important carrier of China's economic development,but also a machine to promote economic growth.The urban economic growth is not only presented as the growth of GDP,but also the improvement of city economic efficiency.It can be said that the key to improve the level of city economic development is to improve urban productivity.Improving the urban productivity is an important strategic significance for the sustainable development of urban economy and the improvement of urban competitiveness.With the economic development entering the new normal in China,economic development is facing the problems and constraints of extensive growth,which is manifest the lack of power and the decline in the growth rate.Therefore,how to change its growth mode to cope with the decline of urban economic growth and achieve connotative growth of economy,achieve inclusive growth and sustainable growth has become an important challenge and reform direction of urban economic development.In the process of deepening economic reform,local governments compete fiercely for production factors in order to improve urban productivity and develop regional economy.From the perspective of the factors of production related to urban productivity,the traditional basic production factors such as labor and capital can be effectively marketed to achieve effective allocation of resources.However,the allocation of land is deeply influenced by the behavior of local governments.Thus,what mechanism of the local government use to affect the efficiency of regional production?This is mainly reflected the pursuit of GDP and financial revenue of local government officials in the background of the promotion tournament.With the land management rights,the local governments make the land as important means which take land as the object to influence economic development in this process.Then this paper introduce the basic concept and relevant theory on the basis of the research of the current domestic and foreign land policy and city productivity,and attempts to analyze the changes of antecedents and consequences and internal power of the local government land transfer mode.Besides,this paper analyze the local government land transfer behavior of the main micro process in the development of local economy and the influence mechanism of enterprise productivity.Based on the efficiency of enterprises productivity,the paper analysis the land transfer behavior affect the level of upgrading the industrial structure,then analysis the internal logic of land transfer behavior influence urban productivity,which can provide a logical explanation with the same as the empirical analysis.Based on the analysis of the current land transfer strategy under the background of local government competition,this paper mainly analyzes the influence of land leasing strategy on enterprise productivity,industrial structure upgrading and urban productivity from the following three dimensions of economic development.Firstly,this paper empirically tests the effect of land transfer behavior on firms' total factor productivity(TFP)when considering the endogeneity and heterogeneity from the enterprise perspective,which use firm level data of Chinese manufacturing industry and the date of Chinese prefecture-level or upper-level cities.The results show that the low price of land leasing and land financial dependence have significantly inverted "U" relationship with industrial enterprise productivity,and low price land leasing influence on industrial enterprises productivity in the low degree of financial dependence.At the same time,the land leasing act opposite effect in the higher administrative level of the capital city.Further study found that land financial dependence has a significant inhibitory effect on the second industry of city and low price of land leasing is still reflected the inverted "U" relationship.Besides,Mismatch of land resources has significant negative impact on the productivity of industrial enterprises.The conclusion means that the local government should reduce financial dependence on land and build a long-term mechanism for moderate price of low price of land leasing and reduce land extensive utilization in order to promote the productivity of industrial enterprises.Secondly,this paper analyzes the influence of the local government land leasing behavior effect on the industrial structure upgrade from the two aspects as land leasing pattern and structure from the industrial perspective,and use panel data of 281 Chinese prefecture-level or upper-level cities in 2003-2014 to analyze the land leasing behavior and industrial structure upgrade nonlinear influence and susceptibility which use spatial econometric method.The empirical results show that industrial structure upgrade of city exist spatial correlation,and land price competition on the industrial structure upgrade presents an inverted U-shape space effect which mainly have significant positive effect in current stage.Land finance dependence is significant to promote the industrial structure upgrade.Land leasing structure is suppression of the industrial structure upgrade level,and each shows the difference in time.Therefore,the land leasing policy should consider local conditions,improve and optimize the allocation of land resources to avoid extensive utilization so as to promote the industrial structure upgrade.Thirdly,this paper analyzes influence mechanism of land price competition,land finance dependence competition and urban productivity in the process of land leasing from the city perspective,and use panel data of 281 Chinese prefecture-level or upper-level cities in 2003-2014 to analyze the land competition and economic development efficiency nonlinear influence which use the fixed effect model,system GMM method and Tobit model.The results shows that the land price competition presents an inverted U-shape with urban productivity,which means that reasonable land leasing behavior is conducive to the promotion of Urban productivity.However,the land finance dependence inhibits the improvement of urban productivity because of the waste of resources by excessive competition and mismatch.Further analysis on the regional level shows that the influence of land price competition and land finance dependence on urban productivity has obvious difference.Therefore,the local government should use appropriate land sale price to investment and reduce land finance dependence.Besides,they should optimize the industrial structure,guide the market competition and improve the efficiency of the fiscal expenditure and other ways to improve the urban productivity.Finally,this paper analyzed the basic logic of land transfer strategy reform and the realistic predicament based on the empirical results above.Through discussing logical foundation and the dilemma in detail which is under the framework of the land strategy and its economic consequences,the paper put forward the policy suggestions of China's land policy reform system from the enterprise,industry,city and land system reform in four aspects.It provide reference for the development direction to the rationalization for standardizing of land transfer market,promote land transfer strategy,and promote upgrading of the industrial structure and enhance the efficiency of local economic development even urbanization.Compared with the existing literature,there are three aspects of innovation and characteristics in in this paper.Firstly,innovation of research perspective,this paper research the land price competition and land financial dependence and expand to the influence of land resources mismatch degree on the economic production efficiency of the city on the macro,meso and micro levels.The conclusion provide the theoretical and empirical research support for the government about the transfer strategy and the way for the local government adjust the land use can promote the city economic development efficiency,even for reforming the land market of circulation to promote the process of urbanization.Secondly,as for the research methods and data,This paper analyzes the transfer strategy of land price competition,financial dependence and land transfer structure effect on the economic development of the city by using the data of 281 prefecture level cities and China industrial enterprises micro data and the methods of spatial econometric model,GMM system,random effects Tobit and fixed effect model,which means that large amount of samples and the result more robust.Thirdly,as far as the breakthrough of research conclusions,when inspect the effects of land financial dependence impact on the economic development of the city,this paper found that there are significant effect on upgrading enterprise productivity and industrial structure,but has an inhibitory effect on the urban productivity.It is probably means that land financial dependence is conducive to industrial enterprise productivity promotion in the early stage of economic development,which has an important relationship with the enhance of environmental infrastructure level,but with the land financial dependence increased,land finance will lead to resource agglomeration to the third industry in the real estate industry,though it can promote the upgrading of industrial structure in the area.It can inhibit urban productivity due to the transmission mechanism of high house prices and low level of the public service.Therefore,the local governments have to reduce dependence on land revenue and extend other financial resources and improve industrial development in order to improve urban productivity.Besides,the low price of land transfer behavior showing a positive correlation with the improve on the industrial enterprises productivity,upgrading of industrial structure and the productivity of city,and the inverted U relationship exist at the same time.It is provides guidance and reference for the local government to adjustment land transfer policy.Finally,the mismatch of land resources has a significant negative effect on urban economic development. |
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