The Impact Of Shanghai's “citizen Recruitment” Policy On The Premium Of School District Housin

In the context of China’s compulsory education policy of "admission in the vicinity of the school",enrollment in primary and secondary schools is strictly based on the school district where the child’s household registration is located.As a result,many parents are willing to pay a high premium for a good school,causing the price of "school district housing" to skyrocket in many cities.Low-income families cannot afford the high prices of quality public school district housing and are forced to choose lower-quality school district housing,creating a residential stratification among families of different incomes.As a supplement to public education resources,many private schools are not inferior to public elementary and secondary schools in terms of teaching quality.Enrollment in private elementary and secondary schools is not restricted by the school district system,which severed the link between school quality and residential location,allowing schools to have more flexibility in selecting their student population and allowing some students living in lower quality school districts to have access to high quality education.In this more independent enrollment model,private schools will take the form of interviews and other forms of early screening for quality students,leading to a greater gap in student quality between public and private schools.A stable,high-quality student population is conducive to the improvement of a school’s teaching performance and is self-evidently important to the school.In order to promote educational equity in compulsory education,Shanghai implemented the "Synchronous Enrollment of Public and Private Schools" reform in 2020 for all primary and secondary schools in the city,narrowing the gap between the quality of students in public and private schools,allowing some of the best students to return to public schools and achieving the goal of promoting educational equity.With the shortage of public education resources and the inability to expand rapidly,the increase in demand will undoubtedly lead to an increase in school district housing premiums.Low-income groups are unable to pay the high cost of home ownership and are forced to choose schools with weak educational conditions,which is another educational inequity for students.It is no small challenge to avoid the side effects of the policy while giving full play to its governance effectiveness.In order to test the impact of the policy on the Shanghai housing market,this paper selects Shanghai’s 2020 primary and secondary school "Synchronous Enrollment of Public and Private Schools " and lottery enrollment policy as the policy shock,and uses the secondary housing transaction data in Shanghai as the sample to observe the impact of the education policy on the premium of school district housing.After integrating the lists of municipal experimental model middle schools and district key middle schools from the Shanghai Education Statistical Yearbook compiled by the Shanghai Municipal Education Commission and the lists of key schools released by authoritative self-media,this paper selects 68 elementary school and 50 middle schools in 10 districts to be included in the list of high-quality primary and secondary schools,and then manually compiles the list of school district houses through the enrollment prospectus published by the Shanghai Municipal Education Bureau every year.Based on the characteristic price model,a double-difference regression model is used to test the impact and heterogeneity of the policy of "Synchronous Enrollment of Public and Private Schools" on school district housing premiums,and to explain the impact mechanism of the policy shock.This paper finds that:(1)the impact of the 2020 "Synchronous Enrollment of Public and Private Schools" policy on school district housing premiums in the sample areas is highly significant,but the magnitude is limited,with only a 1.2% increase in premiums.In terms of classification,the most significant increase in premiums is 3.3%for double-district houses,2.7% for junior high school houses only,and 1.5% for elementary school houses only.(2)Under the time dynamic effect,the premiums of school district houses showed a fluctuating upward trend in the four quarters after the policy announcement,ranging from 0.5% to 2.1%,and reached the highest in the fourth quarter.(3)In the subsample regressions for different administrative districts,the school district premium is higher in the domicile-domiciled districts compared to the school-domiciled districts,and the response to the impact of the "Synchronous Enrollment of Public and Private Schools" policy in 2020 is also different.The changes in premiums for elementary school only,secondary school only,and dual school district houses are-0.5%,4.2%,and 6.8%,respectively,in household registrationadjacent wards,while the changes in premiums for school district houses are-3.1%,0.9%,and-0.1%,respectively,in school registration-adjacent wards.(4)In the analysis of the heterogeneity of housing types,the premiums of small,medium,and large school district houses are 17.1%,9.3%,and 8.8%,respectively,and the impact of the "Synchronous Enrollment of Public and Private Schools" policy in 2020 has a significant impact on small and medium-sized houses,which increase the premiums by1% and 2.5%,respectively,while large houses are not sensitive to the policy impact.The premiums for large homes are not sensitive to the policy shock.This study investigates the impact of private schools on the capitalization of education and the impact of the "Synchronous Enrollment of Public and Private Schools" policy on the premium of school district housing in 2020,which enriches the existing literature.In terms of practical implications,this study discusses the impact of the 2020 compulsory education enrollment reform policy in Shanghai,which provides valuable reference information for further compulsory education enrollment reform in Shanghai and other cities in China.