讲座主题：Pro-Manufacturing Land Policies of Competing Local Governments: A Quantitative Analysis of China

主讲嘉宾：奚锡灿复旦大学188BET金宝搏

讲座时间：2024年5月21日14:00-16:00

讲座地点：中央财经大学沙河校区学院11号楼308

嘉宾简介：复旦大学188BET金宝搏长聘副教授，研究领域为宏观经济学、发展经济学和环境经济学。研究论文曾发表于PNAS、AEJ:Macro、JEDC、CJE、《经济研究》、《管理世界》和《世界经济》等国内外学术期刊。

讲座内容简介：Local government policies can correct market inefficiencies but are also shaped by spatial political economy considerations. We study the rationale and impact of local land policies in China, where local governments have a de facto monopoly in regional urban land markets and exhibit a pronounced pro-manufacturing land allocation across sectors. We develop a multi-sector quantitative spatial equilibrium model where local governments compete non-cooperatively through local land policies. Calibrating and simulating the model, we find that the observed policies are, on average, comparable to the Nash policy when local governments maximize manufacturing output. This result reveals a manufacturing bias in the observed land policies. When local governments instead prioritize maximizing local real income per capita, we find that the land allocation to manufacturing still considerably exceeds that in a competitive market. However, this pro-manufacturing policy results in higher local real income per capita across regions. Finally, when considering the goal of maximizing national average real income per capita, we find that the non-cooperative outcome is nearly as effective as the cooperative equilibrium.