How do housing prices affect a city's innovation capacity? The case of China
Using panel data from 269 Chinese cities, this study examined the impact of housing prices (HP) on cities’ innovation capacity (IC) in China. Firstly, a fixed effect model was used to analyze the effect of HP on cities’ IC in China, revealing that HP positively impacts cities’ IC. Next, several rob...
| Main Authors: | , , , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Vilnius Gediminas Technical University
2023-08-01
|
| Series: | Technological and Economic Development of Economy |
| Subjects: | |
| Online Access: | https://journals.vilniustech.lt/index.php/TEDE/article/view/18899 |
| _version_ | 1797737477232918528 |
|---|---|
| author | Yemin Ding Lee Chin Fangyan Li Peidong Deng Shufeng Cong |
| author_facet | Yemin Ding Lee Chin Fangyan Li Peidong Deng Shufeng Cong |
| author_sort | Yemin Ding |
| collection | DOAJ |
| description |
Using panel data from 269 Chinese cities, this study examined the impact of housing prices (HP) on cities’ innovation capacity (IC) in China. Firstly, a fixed effect model was used to analyze the effect of HP on cities’ IC in China, revealing that HP positively impacts cities’ IC. Next, several robustness tests were conducted to verify the finding’s reliability. Thirdly, the analysis empirically tested mediating mechanisms between HP and cities’ IC in China. The results show that, on the one hand, higher HP can improve cities’ IC by attracting talents and stimulating the growth of local fiscal revenue. On the other, increasing HP can inhibit cities’ IC in China by attracting funds into the real estate market and impeding residents’ consumption ability. Finally, the heterogeneous nature of the HP–IC link in China was further explored. This study’s results provide recommendations for the government of China on how to promote cities’ innovation performance.
First published online 24 August 2023
|
| first_indexed | 2024-03-12T13:30:14Z |
| format | Article |
| id | doaj.art-42f6cf5c11f74026be7b7b16a89998b2 |
| institution | Directory Open Access Journal |
| issn | 2029-4913 2029-4921 |
| language | English |
| last_indexed | 2024-03-12T13:30:14Z |
| publishDate | 2023-08-01 |
| publisher | Vilnius Gediminas Technical University |
| record_format | Article |
| series | Technological and Economic Development of Economy |
| spelling | doaj.art-42f6cf5c11f74026be7b7b16a89998b22023-08-24T15:20:27ZengVilnius Gediminas Technical UniversityTechnological and Economic Development of Economy2029-49132029-49212023-08-0110.3846/tede.2023.18899How do housing prices affect a city's innovation capacity? The case of ChinaYemin Ding0Lee Chin1Fangyan Li2Peidong Deng3Shufeng Cong4College of Business, Yancheng Teachers University, Yancheng, Jiangsu, China; School of Business and Economics, Universiti Putra Malaysia, Serdang, Selangor, MalaysiaSchool of Business and Economics, Universiti Putra Malaysia, Serdang, Selangor, MalaysiaJiangxi Institute of Regional Development, Jiangxi University of Technology, Nanchang, Jiangxi, ChinaSchool of Economics and Finance, Xi’an Jiaotong University, Xi’an, Shaanxi, ChinaSchool of Business and Economics, Universiti Putra Malaysia, Serdang, Selangor, Malaysia Using panel data from 269 Chinese cities, this study examined the impact of housing prices (HP) on cities’ innovation capacity (IC) in China. Firstly, a fixed effect model was used to analyze the effect of HP on cities’ IC in China, revealing that HP positively impacts cities’ IC. Next, several robustness tests were conducted to verify the finding’s reliability. Thirdly, the analysis empirically tested mediating mechanisms between HP and cities’ IC in China. The results show that, on the one hand, higher HP can improve cities’ IC by attracting talents and stimulating the growth of local fiscal revenue. On the other, increasing HP can inhibit cities’ IC in China by attracting funds into the real estate market and impeding residents’ consumption ability. Finally, the heterogeneous nature of the HP–IC link in China was further explored. This study’s results provide recommendations for the government of China on how to promote cities’ innovation performance. First published online 24 August 2023 https://journals.vilniustech.lt/index.php/TEDE/article/view/18899housing pricesinnovationfixed effectmechanism analysisheterogeneity analysisChina |
| spellingShingle | Yemin Ding Lee Chin Fangyan Li Peidong Deng Shufeng Cong How do housing prices affect a city's innovation capacity? The case of China Technological and Economic Development of Economy housing prices innovation fixed effect mechanism analysis heterogeneity analysis China |
| title | How do housing prices affect a city's innovation capacity? The case of China |
| title_full | How do housing prices affect a city's innovation capacity? The case of China |
| title_fullStr | How do housing prices affect a city's innovation capacity? The case of China |
| title_full_unstemmed | How do housing prices affect a city's innovation capacity? The case of China |
| title_short | How do housing prices affect a city's innovation capacity? The case of China |
| title_sort | how do housing prices affect a city s innovation capacity the case of china |
| topic | housing prices innovation fixed effect mechanism analysis heterogeneity analysis China |
| url | https://journals.vilniustech.lt/index.php/TEDE/article/view/18899 |
| work_keys_str_mv | AT yeminding howdohousingpricesaffectacitysinnovationcapacitythecaseofchina AT leechin howdohousingpricesaffectacitysinnovationcapacitythecaseofchina AT fangyanli howdohousingpricesaffectacitysinnovationcapacitythecaseofchina AT peidongdeng howdohousingpricesaffectacitysinnovationcapacitythecaseofchina AT shufengcong howdohousingpricesaffectacitysinnovationcapacitythecaseofchina |