IDEAS home Printed from https://ideas.repec.org/a/taf/repsxx/v12y2024i2p117-142.html
   My bibliography  Save this article

Policy uncertainty and land transaction prices in China

Author

Listed:
  • Xiaoyang Li
  • Mo Liang
  • Jidong Yang

Abstract

Economic policy uncertainty has prominent effects on investment and output. Using unique transaction-level data in China, this paper explores the impact of economic policy uncertainty on land transaction premiums in China. On average, a 1% increase in the policy uncertainty level reduces land transaction premiums by 3.907 percentage points. The impact of policy uncertainty is more profound for firms with tighter financial constraints and land located in cities with lower rent-to-price ratios. The influence of policy uncertainty becomes weaker after the anti-corruption campaign in China, especially in provinces scrutinised by the central inspection teams, implying that improvements in the political environment alleviates the impact of policy uncertainty.

Suggested Citation

  • Xiaoyang Li & Mo Liang & Jidong Yang, 2024. "Policy uncertainty and land transaction prices in China," Economic and Political Studies, Taylor & Francis Journals, vol. 12(2), pages 117-142, April.
    • Handle: RePEc:taf:repsxx:v:12:y:2024:i:2:p:117-142
    DOI: 10.1080/20954816.2023.2298971
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/20954816.2023.2298971
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/20954816.2023.2298971?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:repsxx:v:12:y:2024:i:2:p:117-142. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/reps .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.