On Mechanism Of Governmental Land Supply As A Policy Tool For Macroeconomic Adjustment During The Economic Transition In China

Fiscal and monetary policy were seen to be the most important policy means used by most market economic countries to adjust their macro-economy. They have been proved valid but not perfect by Chinese market-oriented reform for over ten years. Especially in the way by new added investment to increase economic growth, the fiscal and monetary policy that were mainly used to adjust investment to maintain economic stable growth resulted in Chinese economy to experience a"hot--cold--hot"cycle in the last ten years. Consequently in 2004, the land policy was put forward by the central government as a means to participate in adjusting the macro-economy, which is an important lesson for the resources management section how to manage resources and how to participate in adjusting macro-economy. To study this lesson has an important theoretical and realistic meaning for guiding the national macro-economic adjustment, guaranteeing macro-economic stable growth, enhancing and improving land management.In this context, this research aimed at demonstrating the practical necessity, objective possibility and technical feasibility of governmental land supply participating in macroeconomic adjustment by analyzing aspects of the traditional adjustment policy limitations, land natural and economic characteristics, land institution and management system etc.. In order to set up general theoretical framework used to adjust macro-economy, in this research, the land control targets, mechanisms, characteristics, conditions, and relevant policy and measures were explored.Several innovations in this research are as follows: First, systematically studied and discussed the applicability and limitation of fiscal and monetary policy used to adjust the macro-economy. Second, systematically studied the practical necessity, objective possibility and technical feasibility of governmental land supply participating in macroeconomic adjustment, answered an important problem why land as an important production factor with important influence on the national economydevelopment has not been used to adjust national economy by west developed market countries. Third, established a basic theoretically analytical model with Chinese characteristics for land supply participating in macroeconomic adjustment. Finally, completely discussed the characteristics and conditions for land supply to adjust macro-economy effectively, put forward the general land policy tools and measures, and some suggestions to improve the current land management.