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Open AccessArticle

The Influence of Housing Investment on Urban Innovation: An Empirical Analysis Based on City-Level Panel Data in China

1
School of Management, Ocean University of China, Qingdao 266100, China
2
Department of Finance, Economics, and International Business, Marshall University, Huntington, WV 25755, USA
3
School of Economics, Qingdao University, Qingdao 266061, China
*
Author to whom correspondence should be addressed.
Sustainability 2020, 12(7), 2968; https://doi.org/10.3390/su12072968
Received: 25 February 2020 / Revised: 17 March 2020 / Accepted: 30 March 2020 / Published: 8 April 2020
(This article belongs to the Section Economic and Business Aspects of Sustainability)
The reasonable control of housing investment and the encouragement of innovation are two major tasks for the Chinese government. This article uses city-level urban panel data over 2001-2015 to study the effect of housing investment on urban innovation in China. The full-sample regression result shows that housing investment inhibits urban innovation. Housing investment can curb urban capital flow and reduce the gross profits of enterprises, which can hinder the improvement of urban innovation. As for different regions, the eastern region has been more obviously influenced by housing investment, while it has led to less influence on the middle and western regions in China. The conclusions of this study can help to clarify the internal relationship between housing investment and urban innovation, identify how to promote the current transformation and upgrading of China’s real estate investment, and improve the vitality of the real economy. View Full-Text
Keywords: housing investment; urban innovation index; crowding out effect housing investment; urban innovation index; crowding out effect
MDPI and ACS Style

Wang, X.; Duan, Y.; Liu, P.; Han, G. The Influence of Housing Investment on Urban Innovation: An Empirical Analysis Based on City-Level Panel Data in China. Sustainability 2020, 12, 2968. https://doi.org/10.3390/su12072968

AMA Style

Wang X, Duan Y, Liu P, Han G. The Influence of Housing Investment on Urban Innovation: An Empirical Analysis Based on City-Level Panel Data in China. Sustainability. 2020; 12(7):2968. https://doi.org/10.3390/su12072968

Chicago/Turabian Style

Wang, Xiaojie; Duan, Yi; Liu, Pengcheng; Han, Guixin. 2020. "The Influence of Housing Investment on Urban Innovation: An Empirical Analysis Based on City-Level Panel Data in China" Sustainability 12, no. 7: 2968. https://doi.org/10.3390/su12072968

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