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作者

来源

REAL ESTATE ECONOMICS,Vol.46,Issue2,P.449-486

语言

英文

关键字

TRANSITIONAL URBAN CHINA; PROPERTY-VALUES; TENURE CHOICE; HOMEOWNERSHIP; DETERMINANTS; MARKET; DECISIONS; SCHOOLS; SYSTEM; IMPACT

作者单位

[Shen, Leilei] Kansas State Univ, Dept Econ, Manhattan, KS 66506 USA. [Turner, Tracy M.] Iowa State Univ, Coll Business, Finance Dept, 2330 Gerdin Business Bldg, Ames, IA 50011 USA. Shen, LL (reprint author), Kansas State Univ, Dept Econ, Manhattan, KS 66506 USA. E-Mail: lshen@k-state.edu; turner@iastate.edu

摘要

Many areas in China experienced steeply rising house prices beginning in 2003. We test whether a change in local residency requirements may have played a role in driving up house prices in some places by tying access to Chinese universities to local homeownership status in the presence of a rising college premium. We generate a novel dataset that combines China housing market and neighborhood data with household and university admission data. We find evidence of capitalization effects and a sizable increase in the likelihood of homeownership postpolicy change in places with the greatest preferential access to China's elite universities.