Does Financial Development Promote the Growth of Property Income of China’s Urban and Rural Residents?

Xiaozhun Peng, Hongyou Lu, Jiaming Fu and Zhijuan Li
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Xiaozhun Peng: Department of Public Finance and Taxation, School of Economics and Management, Wuhan University, Wuhan 430072, China
Hongyou Lu: The Centre of Finance Research, School of Economics and Management, Wuhan University, Wuhan 430072, China
Jiaming Fu: Department of Economics, Wuhan University, Wuhan 430072, China
Zhijuan Li: Department of International Economics and Trade, Wuhan University, Wuhan 430072, China

Sustainability, 2021, vol. 13, issue 5, 1-20

Abstract: The property income growth of urban and rural residents is an important part of the continuous increase in the disposable income of these residents, which is also inseparable from the deepening development of the financial market. After sorting out the various sources of income that affect residents’ property in the existing research and controlling regional fixed effects, based on data from 31 provinces in China, this article considers important financial factors and the process of urbanization as explanatory variables to perform panel regression on the property income of provincial residents under fixed effects and random effects. In the context of large differences in the investment environment between urban and rural areas, we further examine the effects of financial factors on the property income of urban and rural residents. Only by expanding the investment opportunities and enhancing the investment ability of the residents, can the property income of the residents, especially the rural residents, be guaranteed to grow steadily and sustainably.

Keywords: sustainable growth; financial deepening; residents’ disposable income; property income; urban–rural disparity (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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