Proceedings of the 5th Management Science Informatization and Economic Innovation Development Conference, MSIEID 2023, December 8–10, 2023, Guangzhou, China

Research Article

Whether there is Crowding Out Effect of High Housing Price on Innovation Level: A Panel Data Analysis Based on Prefecture-Level Cities

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  • @INPROCEEDINGS{10.4108/eai.8-12-2023.2344795,
        author={Wentao  Wang and Shiming  Zhao and Yiding  Wang},
        title={Whether there is Crowding Out Effect of High Housing Price on Innovation Level: A Panel Data Analysis Based on Prefecture-Level Cities},
        proceedings={Proceedings of the 5th Management Science Informatization and Economic Innovation Development Conference, MSIEID 2023, December 8--10, 2023, Guangzhou, China},
        publisher={EAI},
        proceedings_a={MSIEID},
        year={2024},
        month={4},
        keywords={fixed effect model; panel data; innovation; house price},
        doi={10.4108/eai.8-12-2023.2344795}
    }
    
  • Wentao Wang
    Shiming Zhao
    Yiding Wang
    Year: 2024
    Whether there is Crowding Out Effect of High Housing Price on Innovation Level: A Panel Data Analysis Based on Prefecture-Level Cities
    MSIEID
    EAI
    DOI: 10.4108/eai.8-12-2023.2344795
Wentao Wang1, Shiming Zhao1,*, Yiding Wang1
  • 1: Tianjin University of Technology
*Contact email: zhaoshiming@email.tjut.edu.cn

Abstract

The rapid development of China's real estate industry has not only driven China's economic development, but also brought about a series of social problems. Based on the innovation capability index and the average transaction price of second-hand housing in 293 prefecture-level cities in China from 2015 to 2021, this paper constructs a panel data model to explore whether high housing prices have an inhibitory effect on urban innovation level, and analyzes its impact mechanism and heterogeneity. This paper analyzes the U-shaped curve relationship between housing price and innovation index, and the heterogeneity of the impact of housing price on innovation development index in cities of different sizes. Finally, according to the experimental results, targeted suggestions are put forward for the relevant government departments of different city sizes, aiming to promote the innovation and development of cities by adjusting the average transaction price of second-hand houses.