Urbanisation in China has long been held back by various restrictions on land and internal migration but has taken off since the 1990s, as these impediments started to be gradually relaxed. People have moved in large numbers to richer cities, where productivity is higher and has increased...

Urbanisation in China has long been held back by various restrictions on land and internal migration but has taken off since the 1990s, as these impediments started to be gradually relaxed. People have moved in large numbers to richer cities, where productivity is higher and has increased...

The liberalization of the land use market has become the most pressing economic issue for the Chinese Government in recent years. The objective of this paper is to provide an overview of land market operations in China with an update of its land policies. It will first present some background...

Market forces played a negligible role in the allocation of industrial land before 2007 in China. Since 2007, the central government has launched a reform that strictly implemented two policies: 1) all the urban industrial land must be sold through public auction; 2) there is a minimum land...

Using transactions conducted by publicly listed firms in China’s primary land market during 2000-2012 as a case study, we confirm that political connections are essentially corruption. By constructing unique measures to partial out the key factors confounding political connections, namely...

Using a sample of one million land transactions in China from 2006 to 2013, I find that the average price of publicly auctioned residential land is nine times higher than the price of adjacent local government-designated industrial land. An industry in a city receiving greater industrial land...

A major part of the literature on land use regulations focuses on the residential land market. In this paper, we examine the impact of the minimum price policy on the large, but understudied, industrial land market in China. The minimum price policy aims to reduce wasteful land use in the...

Municipal governments in China established direct control of the supply of urban land in August 2004. This paper examines whether this government action mitigates the efficiency of the residential land market. Using a unique data set of detailed land and residential community transactions with...

Municipal governments in China established direct control of the supply of urban land in August 2004. This paper examines whether this government action mitigates the efficiency of the residential land market. Using a unique data set of detailed land and residential community transactions with...

This study examines whether political connections lead state-owned enterprises (SOEs) to behave differently from privately-owned enterprises (POEs) in acquiring land parcels at auctions and explores the underlying mechanisms that drive the price premiums paid by SOEs. We find that SOEs pay 11.9%...