Study Of The Mechanisms Of Urban Land Supply On Economic Growth In China

This paper is trying to analyze the contribution of land factors to economic growth of China. Methods employed include theoretical analysis、mechanism analysis and empirical approach. In the first part, we construct an economic growth model of land element, analyze their contribution to economic growth and the influence mechanism. The results show that:during the short term the growth of the land inputs can actually promote the economic growth. In the long term, the fixed scale of land supply will not limit the economic growth. The increase of land application technology is helpful to promote economic growth. Furthermore, the economic growth rate is in reverse to the land dependency ratio of the economy. In the second part of the paper, we analyze the influence mechanism of the land factors to economic growth. In the past thirty years, the land use system reform and the reform of public finance system have changed a lot, the land supply behavior of local governments as well as the role of the land supply to the economic growth also changed a lot. Generally speaking, the influence of the land factors to the economic growth of China can be embodied in the new investment effect and the land capitalization effect. In the last part, we explore the relationship between the economic growth and urban construction land, the results show that there existed a long-term stale equilibrium between urban construction land area and the economic growth. But the input of the urban construction land is not the grange cause to the economic growth. The contribution of land to economic growth in China is significantly10.56%. Further more,we use panel data model to make comparison of the empirical results of the east、west and middle regions. The results show that the lower dependence of the land factors is not the necessary condition but just the sufficient condition to the higher economic development level. With better industrial structure and more reasonable economic growth mode,the dependence of the land factor will be lower.