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Are Princelings Truly Busted? Evaluating Transaction Discounts in China's Land Market

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  • Julia Manso

Abstract

This paper narrowly replicates Chen and Kung's 2019 paper ($The$ $Quarterly$ $Journal$ $of$ $Economics$ 134(1): 185-226). Inspecting the data reveals that nearly one-third of the transactions (388,903 out of 1,208,621) are perfect duplicates of other rows, excluding the transaction number. Replicating the analysis on the data sans-duplicates yields a slightly smaller but still statistically significant princeling effect, robust across the regression results. Further analysis also reveals that coefficients interpreted as the effect of logarithm of area actually reflect the effect of scaled values of area; this paper also reinterprets and contextualizes these results in light of the true scaled values.

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  • Julia Manso, 2025. "Are Princelings Truly Busted? Evaluating Transaction Discounts in China's Land Market," Papers 2502.07692, arXiv.org.
    • Handle: RePEc:arx:papers:2502.07692
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