Capitalization of Urban Public Service Based on Urban Administrative Hierarchy: Evidence of Housing Prices from 281 Cities of China

Junhua Chen (), Siyu Chen, Dingwen Zheng and Yanhui Hao
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Junhua Chen: Central University of Finance and Economics
Siyu Chen: Central University of Finance and Economics
Dingwen Zheng: Central University of Finance and Economics
Yanhui Hao: Central University of Finance and Economics

A chapter in Proceedings of the 23rd International Symposium on Advancement of Construction Management and Real Estate, 2021, pp 437-447 from Springer

Abstract: Abstract On the basis of Tiebout’s theory about optimal provision of public goods, the paper applies the hedonic approach to investigate the capitalization of public services in Chinese cities. We combine urban administrative hierarchy and the phenomenon of capitalization of public services, supplemented by empirical tests of 281 prefecture-level cities and higher. The sample cities were divided into municipalities, sub-provincial cities and general provincial cities. The three sets of data were tested empirically to examine the characteristics of capitalization effects of different grades of cities. The empirical results show that the phenomenon of capitalization of public services does exist, and it performs as follows. The capitalization effect of education and transportation can be proved positively. Furthermore, it is more effective in cities with higher administrative levels.

Keywords: Public service; Capitalization; Urban administrative level (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-15-3977-0_33

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DOI: 10.1007/978-981-15-3977-0_33

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