Do Land Development Rights Increase Agricultural Land Prices? Empirical Evidence from China’s Land Market
Jiaxin Shi | Wei Dou
This study utilized data from 300 prefecture-level cities in China, spanning from 2000 to 2020, and employed a difference-in-differences (DID) model to investigate the influence of land development rights on agricultural land prices, alongside the mechanisms underlying this relationship. The primary aim of this research was to analyze the manner in which land development rights affect agricultural land prices through the implementation of policies and market forces. Via empirical analysis, the study elucidated the effects of land development rights on agricultural land prices within China. The key findings include the following: (1) Land development rights positively influence the increase in agricultural land prices. (2) Land development rights significantly narrow the urban–rural income disparity at municipal and county levels, which in turn impacts agricultural land prices. (3) The effect of land development rights on agricultural land prices is negatively moderated by regional economic growth. (4) While land development rights significantly enhance the prices of arable land, their impact on sectors such as agriculture, forestry, animal husbandry, fishing, and food processing remains minimal. (5) In northern regions and economically underdeveloped areas, land development rights substantially boost agricultural land prices, underscoring their role in fostering local economic development and enhancing land use efficiency.
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