How Does Local Real Estate Investment Influence Neighborhood PM2.5 Concentrations? A Spatial Econometric Analysis

Land

Yufei Wang¹  Yuehua Jiang¹  Xufeng Cui¹  Ling Shan¹  Hongjie Bao²  Cheonjae Lee³ 

[1] School of Business Administration, Zhongnan University of Economics and Law, Wuhan 430073, China;School of Management, Northwest Minzu University, Lanzhou 730030, China;TUM School of Engineering & Design, Technical University of Munich (TUM), 80333 Munich, Germany;

关键词: real estate investment;    PM_2.5 concentrations;    spatial econometric model;    dynamic spatial durbin lag model (DSDLM);   

DOI  :  10.3390/land10050518

来源: DOAJ

【 摘 要 】

Real estate investment has been an important driving force in China’s economic growth in recent years, and the relationship between real estate investment and PM_2.5 concentrations has been attracting widespread attention. Based on spatial econometric modelling, this paper explores the relationships between real estate investment and PM_2.5 concentrations using multi-source panel data from 30 provinces in China between 1987 and 2017. The results demonstrate that compared with static spatial panel modelling, using a dynamic spatial Durbin lag model (DSDLM) more accurately reflects the influences of real estate investment on PM_2.5 concentrations in China, and that PM_2.5 concentrations show significant superposition effects and spillover effects. Moreover, there is an inverted U-shaped relationship between real estate investment and PM_2.5 concentrations in the Eastern and Central Regions of China. At the national level, the impacts of real estate investment on land urbanization and PM_2.5 concentrations first increased and then decreased over time. The key implications of this analysis are as follows. (1) it highlights the need for a unified PM_2.5 monitoring platform among Chinese regions; (2) the quality of population urbanization rather than land urbanization should be given more attention; and (3) the speed of construction of green cities and building of green transportation systems and green town systems should be increased.

【 授权许可】

Unknown