Institutional Transaction Costs and the Real Estate Market:A Quasi-natural Experiment Based on the Establishment of Administrative Examination and Approval Centers
Based on the quasi-natural experiment established by the administrative examination and approval center,this paper discusses the effect of the administrative examination and approval system reform on the urban real estate market.Taking the establishment of the administrative examination and approval center as the proxy variable of the reform of the administrative examination and approval system,the empirical results show that the reform of administrative examination and approval has a significant impact on both the supply and demand of the urban real estate market,and the concrete performance is that it has a positive promoting effect on both the supply and demand of urban real estate,with noted differences.This study is of great significance for understanding the impact of administrative approval reform on the real estate market,providing a basis for improving the business environment,and providing a valuable reference for policy makers and real estate market participants.
Institutional transaction costsadministrative examination and approval reformthe real estate market
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