Can Revitalization of Land Finance Realize Common Prosperity in the Course of Chinese Modernization
Common prosperity is the essential requirement of socialism,and narrowing the income gap between urban and rural residents is the core step in achieving the great goal of common prosperity.Based on the panel data of 285 cities from 2004 to 2019,this study uses SGMM model to explore whether the continuation of the land finance model in prefecture-level cities can achieve common prosperity for urban and rural residents in the course of Chinese modernization.The results show that the impact of land finance presents an"inverted U-shaped"mode on the income gap between urban and rural residents,but a"U-shaped"mode on the income gap among urban residents,which indicates that further implementation of land finance model might widen the income gap among urban residents.The land finance has widened the income gap within rural areas;Every 1％ increase in the proportion of land transfer amount in the budget revenue of prefecture-level cities may increase the income gap of rural residents in these cities by 1.3％.The mechanism test show that the land finance model widens the residents'income gap through the rapid expansion of the economic aggregate of prefecture-level cities.we propose that the widening of the income gap between urban and rural residents can be prevented by controlling the scale of land finance.Through innovating the land finance model and improving the mechanism of profit distribution and sharing in our economic development,the common prosperity of urban and rural residents will be realized in an orderly way.
land financeincome distributioncommon prosperityChinese modernizationeconomic growth
万方数据
维普
