The effects of land market development on economic growth: an empirical analysis based on Chinese panel data,1999-2005

摘要

Optimized land resources allocation is important for economic growth because land is one of the basic ele ments for economic development. And urban land resources allocation has had an increasingly important influence since the Chinese socialist market economy system was established. This paper estimates the production function of both the secondary and the tertiary industries of China's 31 provinces, autonomous regions and municipalities directly under the central government through an analysis of the panel data of the total output value of the secondary and the tertiary industries, invested capital, invested labor forces and the land market-featured management of the above-mentioned regions during the period of 1999-2005, and examines the positive influence of the above- mentioned factors on regional economic output. This study concludes that urban economic output is positively related with the level of urban land resources market-featured management, since the rate of economic growth of those regions approximates 14.7% under the condition of urban land market running during the period of 1999-2005.