China's Construction Land Expansion and Economic Growth: A Capital-Output Ratio Based Analysis
China's Construction Land Expansion and Economic Growth: A Capital-Output Ratio Based Analysis
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DOI：
10.1111/j.1749-124x.2008.00137.x
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发表时间：
2008-11
期刊：
影响因子：
--
通讯作者：
Huizhong Li
中科院分区：
文献类型：
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作者：
Huizhong Li
2003年以来，中国政府将土地政策作为一项重要的宏观经济政策。本文从资本产出比的角度分析了建设用地扩张对经济增长的影响。利用中国1999 - 2005年的省级面板数据，我们得出结论，中国建设用地的过度扩张导致了资本产出比的增加。因此，扩大建设用地对经济增长的贡献不大。本文认为，土地紧缩政策并不阻碍经济的高速增长，而是经济可持续增长的必要条件。
Since 2003, the Chinese Government has been using land policy as an important macroeconomic policy. The present paper analyzes the impact of the expansion of construction land on economic growth in terms of the capital-output ratio. Using provincial panel data for China from 1999 to 2005, we conclude that the excess expansion of China's construction land led to an increase in the capital-output ratio. Therefore, expanding construction land has made little contribution to economic growth. This paper argues that contractionary land policy does not deter high economic growth, and is a necessary condition for a sustainable economic growth.