Topic: Rail Transit, Land Premium and Local Fiscal Behavior in Land Transfers: Evidence from Chinese Cities

Lecturer: Prof. Yugang Tang, Vice Dean, School of Economics, Shandong University

Time: 12:00-13:00 p.m. June 1st, 2023

Venue: B321,Zhixin Building, Central Campus

Abstract: Based on China's nationwide urban rail transit data and large-scale land transfer data, this study estimates the capitalization(price) effect and quantity effect of urban rail transit in the approval, construction and operation stages by using Spatial differential method. The empirical results show that in the face of the land premium brought by rail transit, local governments do not adopt the inter-period strategic transfer method, but more use the way of land development and public service delivery responsibility bundle (Developer Contribution) to capture land value. This paper analyzes the political and economic logic behind the land transfer behavior of local governments, which is helpful to understand the development mode of Chinese urbanization.