Local Public Expenditure, Public Service Accessibilities and Housing Price in Shanghai, China

2015年08月15日 00:00
Working papers

关键词:地方财政

作 者:李会平 

发表时间:2015-08-15

概要:

Residents  in  different  communities  have  different  levels  of  public  service  accessibilities. Existing  literature  documents  effects  of  public  services  on  housing  prices  with  fragmented local governments. Few studies have examined how public service provision impacts housing prices  under  Chinese  centralized  governance  system.  Using  data  on  housing  price  at  the community  level,  socioeconomic  characteristics  at  the  neighborhood  level,  and  public expenditure  at  the  City  district  level,  this  study  examines  how  public  service  provision  is associated with housing prices  in Shanghai. Results show that,  public service accessibility is capitalized  into  housing  prices.  While  the  total  expenditure  at  the  City  district  level  is  not related to housing prices,  government  redistributive  expenditure is  positively  associated with housing price  and  developmental  expenditure is on the opposite.  The expenditure effects are further mediated by accessibility to public facilities.  The findings suggest that decentralized fiscal  system  with  relatively  centralized  government  structure  may  have  reinforced  urban polarization in Shanghai.

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