Economic impact of land finance and subsequent risk response

• 来源期刊: 中国财政与经济研究（英文版）
• 关键词: land finance economic growth economic structure risk response
• 年，卷（期）: 2014,（2）
• 页码范围: 75-85
• 页数: 11页
• 语种: 英文

摘要

In China,land finance is actually an endogenous factor in economic growth.As a kind of nontraditional,informal government revenue in China's economic transition process,land finance is unstable,non-standard and unsustainable,and it simultaneously makes the current land-finance dependent growth mode difficult to maintain.The paper firstly analyzes the impact of the land finance on China's economic growth and economic structure change followed by discussing the possible risks in post-"land finance" period.It then put forward some suggestions to deal with the problem.The analysis shows that land finance exacerbates the economic fluctuation,bringing in the increase of government public expenditure and economic growth in the short term.Nonetheless,in the long term there is no significant effect,and it could gradually lead to a more unreasonable economic structure.In the post-"land finance" period,if we do not take precautions in advance,it will restrain the sustainable development of China's economy and society.