A1006
Title: Effect of the rural collective-owned commercial construction land marketization reform on land misallocation
Authors: Dan Cheng - University of Electronic Science and Technology of China (China) [presenting]
Abstract: To integrate the rural-urban land market, a pilot reform of rural collectively-owned commercial construction land (RCOCCL) circulation was implemented in 33 counties in 2015. The aim is to explore the impact of the reform of RCOCCL circulation on land misallocation to provide a reference for the implementation of a new round of pilot. The conclusion shows that, firstly, the reform increased the county's land resource mismatch degree. Secondly, the direction of land misallocation, pilot time, and location of the pilot county affected the policy effect of the reform on land resource mismatches. Thirdly, the reform improved the degree of marketization, but it didn't change the path dependence of local governments on land-driven development. Through the expansion of urban investment bonds and discounted transfers for industrially occupied land, the reform increased the degree of land misallocation. In summary, the reform of RCOCCL trade increased the degree of county land misallocation. This is primarily due to the imperfect land market institutions and the path dependence of the traditional economic development model. Policy implications to perfect the financing system, move away from land dependence and foster a new development mode are concluded with.
