Internal and External Effect of Estate Investment upon Regional Innovation in China

Chen Zhu, Da Zhao and Zhiyi Qiu

Emerging Markets Finance and Trade, 2019, vol. 55, issue 3, 513-530

Abstract: Does estate investment affect innovation investment in neighboring regions? Based on new economic geography and political economics, we theorize both internal and external effect of estate investment upon regional innovation. With dynamic panel and spatial Durbin model, we draw conclusions as follows: 1) Regional innovation is handicapped by local estate investment (internal effect); 2) regional innovation is more handicapped by estate investment in neighbouring regions (external effect); 3) estate investment exerts negative effect in Eastern provinces but positive in Central and Western provinces; 4) negative effect showed up after land policy reform in 2003.

Date: 2019
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DOI: 10.1080/1540496X.2018.1530981

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