论文标题：Land investment regulation and allocative efficiency: Evidence from the Chinese manufacturing sector
论文作者：赵爱栋（第一作者）
论文介绍：
Abstract：Land is a crucial input for many production processes, but it is often ignored in economic analyses. In China, where preservation of land for agriculture is an important issue, several measures are taken to limit industrial land use. Combining information about land transactions with high quality micro data of manufacturing firms allowed us to analyze the role of land in the Chinese manufacturing sector. Applying state-of-the art techniques for estimating production functions, we find that the marginal productivity of land exceeds its annualized price substantially in our sample of more than 20,000 newly established firms, and increases over time. Moreover, the size of the gap is significantly associated with the minimum investment intensity (MII) per unit of land, that is imposed by national and local authorities (see the Figure). Exploiting several sources of identifying information results in a coherent picture. Moreover, we show that our result is unlikely to be caused by imperfections or corruption in the land market or by other determinants of land productivity that are correlated with changes in minimum investment regulation. Ourt results suggest that MII regulation has been successful in preserving farmland and natural areas by intensifying the use of land in manufacturing, but that this comes at a cost. More generally, the paper illustrates the relevance of paying attention to land as a separate factor of production.
伴随中国制造的崛起，工业用地快速扩张成为我国城镇内部占比最大的单一建设用地类型。为此，中国政府出台了一系列政策工具来提高工业用地利用效率以减少耕地占用。其中，工业用地最低投资强度是较为典型的政策工具。该政策通过人为限制企业生产中的资本/土地最低比率，可能导致企业土地投入偏离最优水平，引发土地配置的无效率。该文利用2007-2014全国新设立工业企业数据库，基于C-D生产函数计算了企业层面土地错配水平，采用border discontinuity design方法实证检验了最低投资强度标准及其行业、区域异质性对土地错配的影响。研究发现中国新设立制造业企业存在严重的土地错配，且错配程度与最低投资强度水平显著正相关，意味着对工业用地利用施加投资强度管制阻碍了土地要素的最优配置，并导致中国制造业产出的损失。该研究结合中国实践将土地利用管制经济效应的研究拓展至工业用地领域，并提供了关于土地错配（land misallocation）及其引致因素的微观证据。
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校内作者简介：赵爱栋博士2020年10月获得荷兰内梅亨大学经济学博士学位，2020年12月入职南京财经大学经济学院。其研究领域集中在土地经济学与城市经济学，对我国工业用地利用管制及其经济效应、低效用地再开发、工业集聚、地价与房价等主题展开了深入而持续的研究，围绕上述主题主持国家自然科学基金等多项课题，在Journal of Economic Geography、International Journal of Urban Science、Cities、中国土地科学、资源科学、中国人口资源环境等国内外期刊发表文章20余篇。
期刊简介：Journal of Economic Geography由牛津大学出版社出版，伦敦政治经济学院Stephen Gibbons教授等世界知名城市与区域经济学、人文经济地理学者担任主编，是ABS四星级及SSCI一区期刊，现在已成为经济地理学、城市与区城经济学的国际权威期刊，年发文量40篇左右。据统计，近5年以中国大陆学者为第一作者在该期刊的发文量仅5篇左右。
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