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作者

Zhenshan Yang;Yinghao Pan

来源

CITIES,Vol.98,Issue1,Article 102577

语言

英文

关键字

Human capital;Regional economy;Housing prices;Panel VAR;Talent battle;China

作者单位

Key Lab of Regional Sustainable Development and Modelling, Institute of Geographical Sciences and Natural Resources Research, Chinese Academy of Sciences, Beijing 100101, China;Department of Real Estate, 4 Architecture Drive, National University of Singapore, 117566, Singapore;Key Lab of Regional Sustainable Development and Modelling, Institute of Geographical Sciences and Natural Resources Research, Chinese Academy of Sciences, Beijing 100101, China;Department of Real Estate, 4 Architecture Drive, National University of Singapore, 117566, Singapore

摘要

This study examines the dynamic agglomeration economies through matching channel between human capital agglomeration, regional economic development, and housing prices. Using data from 31 Chinese provinces from 1999 to 2015, it employs a panel vector auto regression model to study the interactive relationships among these factors. Overall, the results show that human capital agglomeration has a positive long-term influence on housing prices and economic development, and has become a determinant of regional economic growth. Housing prices have a negative long-term influence on economic development. However, human capital accumulation responds positively to housing price in regions other than municipalities. These findings suggest that vie for talent through housing policy might not be effective in underdeveloped regions and could lead to misallocation of government fiscal resources.