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| Does Land Finance Hinder Regional Innovation？Based on the Data of 267 Prefectural-Level City in China |
| LU Yuanping, ZHANG Kezhong, OU Yangjie
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School of Public Finance and Taxation, Zhongnan University of Economics and Law;
School of Management, Huazhong University of Science and Technology |
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Abstract Using the prefecture level panel data during 2002-2012, we examined the specific influence and mechanism of land finance on regional innovation. The empirical result shows: (1) Reliance on land finance of local government significantly hinder the regional innovation; (2) The government spending preferences, the crowding out effect of enterprise innovation, and destruction of the institutional environment are main mechanism under the land finance model; (3) The influence of land finance on innovation has significant heterogeneity in regional and land transfer forms. Therefore, the establishment of innovative nation requires the further regulation on the behavior of local government and weakening the financial dependence on land resource.
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Received: 23 August 2017
Published: 01 November 2018
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