Does the tender, auction and listing system in land promote higher housing prices in China?

Yuelong Wang, Yongze Yu and Yaqin Su

Housing Studies, 2018, vol. 33, issue 4, 613-634

Abstract: Using monthly data on national housing prices from July 1998 to June 2015, we investigate the effect of the ‘Tender, Auction and Listing’ (hereafter TAL) system on housing prices in land, implemented on 31 August 2004. We apply the additional polynomial regression discontinuity method which effectively eliminates the effects of several confounding factors such as financial crisis, ‘New National Ten Provisions’ and ‘9.30 New Regime’. We find that, although the TAL has caused the national average housing prices to go up by 10%, accounting for 11% of total increase in housing prices in the last year, it does not constitute the major driver for housing prices. Furthermore, our results indicate that TAL has exerted a larger impact on commercial and residential properties, especially in the middle and west regions. By examining the transmission mechanisms, we find that the effects of TAL are mainly via government’s starvation-style land supply effect and market-reshuffling effect.

Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
http://hdl.handle.net/10.1080/02673037.2017.1373750 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:chosxx:v:33:y:2018:i:4:p:613-634

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/chos20

DOI: 10.1080/02673037.2017.1373750

Access Statistics for this article

Housing Studies is currently edited by Chris Leishman, Moira Munro, Ray Forrest, Alex Schwartz, Hal Pawson and John Flint

More articles in Housing Studies from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().