Study On The Policy Effect Of The Premium Rate Of The School District In Beijing

The story of Meng mother’s three emigration in ancient China reflects the importance that the ancients paid to their children’s education,and this trend has continued from ancient times to the present.As the quality of people’s lives improves,families ’willingness to pay for high-quality education resources for their children’s future is gradually increasing.As China is still a large developing country,regional differences and the dual urban-rural duality structure are prominent,leading to unevenly distributed education resources in large cities.The pursuit of high-quality education resources by families has led to the phenomenon of school district housing premiums in the real estate market.In order to achieve education fairness,education committees in various regions have successively introduced relevant policies to reduce the occurrence of school selection.This article is based on the "multi-school filming" education policy reform introduced by the Beijing Municipal Education Commission at the end of 2018,and explores the specific impact of the policy reform on the school district housing premium.In terms of academic value,the study of housing premium in school districts will help to enrich the theoretical methods of housing research in domestic school districts and provide micro-level evidence for the impact of education reform policies.In terms of application value,the selection of high-quality educational resources in Beijing school district housing as a research object has a certain representativeness,and its research results can be extended to the whole country,providing a reference for further reform and pilot work in various regions.Based on the nearby enrollment policy in the compulsory education stage,this article explores the capitalization effect of Beijing school quality on housing prices in the context of a series of education reform policies.Based on the differential rent theory,supply and demand theory,and characteristic price theory,research on school housing premiums is conducted.By judging the division of Beijing’s school districts and the quality of educational resources,the school districts of the eleven key primary schools in the city’s six districts were selected as research objects.Based on the web crawler and manual collection methods,we collect information on house sales in each school district and neighboring communities from 2017 to 2019,and classifies and screens them according to the two criteria of school district and non-school district housing,before and after policy reform.In terms of empirical research,this article first conducts a classic characteristic price model in real estate price research,using the logarithm of second-hand house prices as the explanatory variable and school district attributes as the explanatory variables.A robust full-squares regression of the entire sample is used for subsequent policy research reference.In the characteristic price model,the school district housing premium after the policy reform was reduced by about 5.5%compared to before the reform.Next,the bounded fixed-effect method is used to perform pairwise regression between school district houses and neighboring non-school district houses.Specifically,we select school district houses designated by key elementary schools to pair with neighboring non-school district houses,and eliminate the grouping efifect through first-order difference.In the end,483 pairs of matching communities were obtained.The logarithmic linear model was used to measure the implied price of high-quality educational resources.The results show that the school district housing premium after the policy change was reduced by about 2.74%compared with that before the reform.The regression results are significantly lower than the characteristic price model before and after the policy reform,which not only shows that the regression result of the fixed boundary effect is more robust after the grouping effect is proposed,but also further explains that policy reforms can help reduce the school district’s housing premium.Finally,in order to strip out the net effect of policy reforms,this paper uses a double-difference model and introduces the explanatory variables of policy attributes for least squares regression.The results show that after the "multi-school filming" policy reform,families ’willingness to pay for quality education resources has declined about 5.93%,confirming the effectiveness of education reform policies.The above model tests have passed the robustness test,which can provide a reference for further reform in reality.Finally,this article aims at the current situation of the premium rate of the housing market in Beijing’s school districts,and puts forward the key adjustments and countermeasures for the future housing market in Beijing’s school districts.The government should further formulate reasonable reform policies to allocate educational resources.Schools should actively introduce competition mechanisms and optimize internal resource allocation.Parents should also consider all aspects when buying a house to avoid distortions in housing choice.