Land Development Rights, Wealth Effect and Rural Land Reverse Mortgaging
Read
DownLoad |
| Title | Land Development Rights, Wealth Effect and Rural Land Reverse Mortgaging
|
| Author | Huang Shaoan and Chen Jian |
| Organization | ShanDong University |
| Email | shaoanhuang@sdu.edu.cn；chenchenaixiaoyu@126.com |
| Key Words | Rural; Land development rights; Wealth effect; Land reverse mortgaging; Threshold effect |
| Abstract | Aging in rural areas is our real focus. With the weakening of family pension and a serious shortage of social security capabilities, rural pension problem faces a severe test. The approach of rural pension security should be diversified. In addition to the establishment of a unified and basic urban and rural pension security system, exploring some complementary and supplementary pension mode is necessary with enormous pressure and practical difficulties of rural pension problem. Rural land reverse mortgaging worth exploring, but existing attempts often hardly provide effective help truly for rural pension problem , due to the neglect of the key crux that rural land wealth effect has been hampered under the same land with the different rights.This paper attempts to introduce land development rights to build market-oriented solutions. By expanding intertemporal substitution model, the paper considers the impact of land development rights and obtains theoretical propositions: With the gradual release or separation of rural land development rights, the land wealth effect for the old continues to expand, thereby helps realize rural land reverse mortgaging. Based on Chinese data, the paper uses the non-linear threshold model Hansen and discusses the progressive characteristic of this impact process. Finally, the paper proposes transfer or purchase of land development rights, gradually forming a trading market of land development rights and rural land mortgage finance innovation. But the core problem is that the relationship between government and the market must be coordinated. |
| Serial Number | WP1063 |
| Time | 2016-05-13 |
|