Will the Housing Purchase Restriction Policy Reduce the Scale of Local Government Debt: Based on the Data from 333 Cities

ZHU Jun; ZOU Tao-lue

Volume 37 Issue 1

Jan. 2022

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Article Navigation > Journal of Guangdong University of Finance & Economics > 2022 > 37(1): 29-39, 74

ZHU Jun, ZOU Tao-lue. Will the Housing Purchase Restriction Policy Reduce the Scale of Local Government Debt: Based on the Data from 333 Cities[J]. Journal of Guangdong University of Finance & Economics, 2022, 37(1): 29-39, 74.

Citation:

ZHU Jun, ZOU Tao-lue. Will the Housing Purchase Restriction Policy Reduce the Scale of Local Government Debt: Based on the Data from 333 Cities[J]. Journal of Guangdong University of Finance & Economics, 2022, 37(1): 29-39, 74.

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Will the Housing Purchase Restriction Policy Reduce the Scale of Local Government Debt: Based on the Data from 333 Cities

School of Public Finance and Taxation, Nanjing University of Finance and Economics, Nanjing 210023, China

Received Date: 2021-07-18
Available Online: 2022-02-22
Publish Date: 2022-01-28

Abstract

Abstract

The housing purchase restriction policy will not only affect house prices, but also affect the scale of local government debt. Based on the debt balance data of 333 prefecture level cities from 2014 to 2018, the multi period DID method is used to study the impact of housing purchase restriction policy on the scale of local government debt at the urban level. It is found that, the housing purchase restriction policy will reduce the scale of local government debt; the impact of the purchase restriction policy on provincial capital cities and non-provincial capital cities is different, and the impact on economically developed areas is more significant; in addition, for economically developed central cities, especially administrative central cities, the role of the purchase restriction policy in inhibiting local debt expansion is more significant. This paper suggests that when China's economy is in the advent of high-quality development, the differentiated policy of housing market regulation and debt management in different regions should be implemented.
- government debt,
- local government debt,
- housing purchase restriction,
- real estate market,
- purchase restriction policy,
- debt scale,
- key city

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References(25)

References

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