Activity Arrangement:

14:00-15:00 Academic report

15:00-15:30 Exchange of participants

Speaker:Chunyang Wang, School of HuifengEconomics, Beijing University

Time: Thursday, March 11, 2021, 14:00-15:30

Site: Meeting Room 729, Mingde Main Building, Renmin University of China

Summary of report:

Using a sample of one million land transactions in China from 2006 to 2013, I find that the average price of publicly auctioned residential land is nine times higher than the price of adjacent local government-designated industrial land. An industry in a city receiving greater industrial land subsidies enjoys a higher growth of output, capital, and labor but lower productivity. My results are robust to instrumental variable estimations based on local governments’ bond issuance quotas. Further micro-level evidence, including land purchase determinants, firm performance after the land deal, and leader characteristics’ effects, supports a local leader-firm reciprocity mechanism.

Brief introduction of the author:

ChunyangWang，associate professor of economics at the HSBC Business School of Peking University. He received a bachelor's degree in economics from Peking University in 2006 and a master's degree and doctor's degree in economics from the University of Minnesota in 2011. The research fields are regional economics, institutional economics and economic growth. The academic papers were published in European Economic Review and other famous journals.

The Spatial and Urban Economics Seminar is regularly launched by the Institute of Regional and Urban Economics, School of Applied Economics, Renmin University of China and aims to provide a platform for communication among scholars studying regional and urban economic issues in China.

Contact:Angdi Liu（angdilu@ruc.edu.cn）