城市创新效率对不动产投资结构的影响研究  

Research on the impact of urban innovation efficiency on real estate investment structure

作　　者：王荣[1] 赵华平[1] 张所地[1] WANG Rong;ZHAO Huaping;ZHANG Suodi(Management Engineering Research Center,Shanxi University of Finance and Economics,Taiyuan 030006,China)

机构地区：[1]山西财经大学管理工程研究中心,太原030006

出　　处：《系统工程理论与实践》2024年第2期529-545,共17页Systems Engineering-Theory & Practice

基　　金：国家社科基金年度一般项目(20BJY068);山西省科技战略研究专项(202204031401090)。

摘　　要：本文选取2008–2020年中国地级以上城市的面板数据,通过基于数据包络分析的FP(Fare-Primont)指数法测度了城市的创新效率,运用面板双固定效应模型和工具变量法,实证检验了城市的创新效率对不动产投资结构的影响效应;通过构建的住宅-非住宅不动产投资的非线性动态系统模型,分析了不同创新效率城市不动产投资结构的稳定性.检验结果表明:城市当期与上一期的创新效率均会显著促进非住宅不动产投资比重,并呈非线性作用模式.在不同创新效率城市中,不动产投资结构都存在稳定值,且高创新效率城市的稳定值>中创新效率城市的稳定值>低创新效率城市的稳定值.因此,当地政府应结合城市的创新发展定位,合理运用调控政策,促进不动产市场的健康发展;同时,还应根据城市创新效率水平变化和城市间创新效率差异,因时制宜、因城施策,调整不动产投资结构.This paper selects the panel data of cities above prefecture level in China from 2008 to 2020,and measures the innovation efficiency of cities using the FP(Fare-Primont)index method based on data envelopment analysis.Using the panel double fixed effects model and instrumental variable method,this paper empirically tests the impact effect of urban innovation efficiency on real estate investment structure;By constructing a nonlinear dynamic system model for residential and non-residential real estate investment,the stability of urban real estate investment structures with different innovation efficiencies was analyzed.The test results indicate that the innovation efficiency of both the current and previous periods in the city will significantly promote the proportion of non-residential real estate investment,and exhibit a non-linear effect pattern.In different innovation efficiency cities,the real estate investment structure has stable values,and the stable value of high innovation efficiency cities is higher than that of medium innovation efficiency cities and lower innovation efficiency cities.Therefore,local governments should combine the positioning of urban innovation and development,reasonably apply regulatory policies,and promote the healthy development of the real estate market;At the same time,it is also necessary to adjust the real estate investment structure according to changes in urban innovation efficiency levels and differences in innovation efficiency between cities,and implement policies tailored to the times and cities.

关 键 词：不动产投资结构 创新效率 非线性动态系统 稳定比重 

分 类 号：F293.3[经济管理—国民经济]