A Study About The Effect Of Land Finance On Economic Growth In China

In recent years,with the rapid development of China's economy and the increasing economic volume,the land finance scale of local governments is also growing,land finance has aroused wide concern among the state and society,and has become a hot topic in academic research.At the same time that the scale of land transfer income is expanding,the local government's dependence on land finance is increasing,and the disadvantages of land finance are becoming more and more prominent,the process of industrialization and urbanization in China is accelerating year by year,the demand for urban construction funds is also increasing,if we can not change the disadvantages of land finance,It will restrict the further development of the urban economy,hinder the healthy development of the economy,distort the normal rank of the real estate market,cause rent-seeking and corrupt on government behavior as well as more farmers lost land,affecting the construction of China's people's livelihood projects and the development of a harmonious society.Therefore,how to reduce the dependence of local government on land finance and ensure that local governments keep adequate fiscal revenue for the development of local economy is one of the main problems facing our country at present.Although the problem of land finance has attracted the attention of scholars at home and abroad,the impact of land finance on economic growth has not reached a consistent conclusion both in theory or empirical level.On the basis of the previous study,this paper tries to start from the current situation of land finance and the main problems,puts forward the arguments and problems that need to be solved,and gives the answers and draws conclusions through theoretical and empirical analysis in the following chapters.First of all,the land finance is defined from the narrow and broad sense,and the composition and structure of land finance are compared and analyzed through the data.Secondly,from the aspects of financial system reform,land system reform and administrative system reform,this paper deals with China's financial system reform,land system reform and administrative system reform.To study the institutional factors restricting the effect of land finance on economic growth.Thirdly,it analyzes the effect of land finance on economic growth from the level of industrialization and urbanization,empirically analyzes the positive impact of land finance on industrialization and urbanization,and analyzes the hindrance of land finance to economic growth from the perspective of rent-seeking and corrupt government behavior.Finally,combined with the national conditions of our country,this paper puts forward some policy suggestions to solve the land financial difficulties from the macro and micro levels.The specific chapters are arranged as follows: second,the third part is the theory of land finance,the analysis of the current situation of land finance and the existing problems.The fourth,fifth and sixth parts make use of the national time series model and the panel data model of 30 provinces for econometric regression analysis;the seventh and eighth parts discuss the institutional factors that affect the effect of land finance on economic growth and put forward some countermeasures and suggestions to solve the problems of land finance.From the quantitative point of view,this paper analyzes how nonlinear relations change due to the changes of other variables and the long-term convergence of the three regions of east,middle and west of China.Specifically,on the one hand,the relationship between the above variables is obtained by using pulse analysis method to establish the variable auto-regression model(VAR)between land transfer and economic growth,fixed asset investment and employment of the whole society.Using the data of 30 provinces,the three regions of our country are divided,and the model of panel data is used to establish the fixed effect and random effect model,which shows the nonlinear relationship between variables.In order to adapt to the new normal of economic growth in our country,we must proceed from the stage of actual economic development in our country,clarify the influence of land finance on industrialization,urbanization and economic growth,and deeply understand the principle and mechanism of land finance on economic growth.Land finance,as an important factor to stimulate investment and economic growth,has a very important contribution to total demand.similarly,economic growth will also counteract investment and affect the intensity of land fiscal policy.Therefore,rational planning of land finance development model will better promote economic growth.