Growth Pressures, Stimulus plan, and Industrial Land Transfer
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| Title | Growth Pressures, Stimulus plan, and Industrial Land Transfer
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| Author | Yang Jidong and Yang Qijing |
| Organization | Renmin University of China |
| Email | yangjidong2001@163.com；qijing_yang@163.com |
| Key Words | financial crisis;economic stimulus plan;economic pressures;industrial land |
| Abstract | In China's unique decentralized system, macroeconomic policies of the central authorities must rely on local governments who have substantial financial and administrative resources. In order to explore the running mechanism of China's macroeconomic policy based on manual collection data of urban industrial land in 2007-2011; we investigated “4 trillion stimulus plan”impacts on industrial land by using difference in difference method. Research results show : (1) growth pressure will make local government more active to using stimulus plans and have more industrial land transfer, but fiscal pressure is will restricted local government capacity of using stimulus plans ; (2) without stimulus plan , growth pressure does not take effect on land transfer in local government level ; (3) When the tenure municipal Secretary in office is more long , especially over 3 years, to reduce the growth pressure under the stimulus program , local government more likely to give more industrial land transfer. These results suggest that, promotion incentive of economic growth performance competition is important motivation for local government investment and economic development. This effect also has impact on China's macro-economic policy and economic volatility. |
| Serial Number | WP787 |
| Time | 2014-12-30 |
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