关键词: 工业用地, 土地抵押贷款, 工业增长

Abstract:  Through a DSGE model, this paper finds that the low price of industrial land policy does not necessarily increase industrial growth. In areas heavily dependent on land mortgage loan, low land price makes the value of mortgage decline and raises the credit cost, leading to a weak industrial growth. Furthermore, through the analysis of panel data of 101 cities from 2000 to 2015, we find that low land price can indeed promote industrial development in the eastern region, but cannot significantly increase industrial production in the central and the western regions. Considering the differences in dependence on land mortgage loans between the eastern and the central/western regions, we believe that only when a region is independent of land mortgage loan, the low land price can significantly promote industrial growth.

Key words: industrial land, land mortgage loan, industrial growth