What is it about?
How housing costs would influence the job-housing choice of talent and associated city-level innovation performance is a question of interest for urban development policies. We use the housing price data of 51 cities from the China Real Estate Index System database and the corresponding macro data of China City Statistical Yearbooks from 2005 to 2014 to analyze the general impacts of housing prices on talent movement and innovation performance.
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Why is it important?
The empirical analysis shows that the increase in city housing prices generally correlates positively with city innovation outcome and talent attraction, suggesting no crowding-out effect on the innovative performance of the city. However, the positive association between housing prices and innovation outcome and talent attraction has started to disappear in first-tier cities in recent years, suggesting potential crowding-out effect if the increasing housing prices transform to bubbles.
Perspectives
This research would provide considerable policy implications both for central and local governments concerning the impacts of housing prices on talent movement and innovation output.
Xiongbin Lin
Ningbo University
Read the Original
This page is a summary of: Housing price, talent movement, and innovation output: Evidence from Chinese cities, Review of Development Economics, July 2020, Wiley,
DOI: 10.1111/rode.12705.
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