Analysis On The Impact Of City Scale On Land Finance

Land Finance refers that local governments increase their income by selling the land.Judging from the existing researches,there are two aspects that account for the existence of land finance.One is to cope with financial pressure,and the other is to develop the economy.Apparently,there is something in common among the land finances of each city,but there are still some differences due to the different city scale,population agglomeration,economic capacity,etc.There are few papers about the influence of the city scale,which is an endogenous factor for the land finance.This paper explores it in this aspect.First of all,this paper analyzes the connotation of the urban scale and the characteristics of land finance.Based on the 2002-2014 date,this paper studies 21 cities in Guangdong Province,and takes the population agglomeration,per capita GDP and construction land area as the classification of city scale.This paper divides these 21 cities into 3 types by using the cluster analysis of SPSS,and then analyzes the characteristics of land finance of each type of cities.Next,on the basis of the description of the present situation and the theoretical analysis,this paper makes an empirical analysis how the urban scale affects on the land finance.Based on the factors of the population and territory(the total population at the end of the year and the population density)and the economic factors(the per capita GDP,the industrial level,the FDI and the financial pressure),this paper establishes two panel models of every type of the cities.One model's dependent variable is the land sale revenue when the other one model's is the average price of land sale.Furthermore,this paper makes empirical analysis on the relevant data by Stata,and then analyzes the empirical results of various cities contrastively.Finally,the empirical results show that the impact of per capita GDP and financial pressure on the land financial scale of the first class cities are not significant,but the other factors have significant influence on the land financial scale of all types of the cities.Besides,the impact of the population agglomeration on the prices of urban land transfer in the first class cities and the impact of the per capita GDP on the prices of urban land transfer in the second class cities are both not significant.And the other factors all have positive effects on the prices of land transfer in all types of cities.All factors have different influences on the land finance of different types of cities.Combining the features of the land finance in the cities of different scales,this paper puts forward policy suggestions for the governance of land finance.