Li Yuan, Khan Jamal, Mahsud Qaiser Jamal
Institute of International Studies, Shandong University, Weihai, Shandong, China.
School of Northeast Asia Studies, Shandong University, Weihai, Shandong, China.
Front Psychol. 2023 Jan 4;13:970039. doi: 10.3389/fpsyg.2022.970039. eCollection 2022.
China's housing distribution system has undergone a major transformation, and the country's housing markets have experienced a rapid price increase. However, the extent to which urban housing prices influence female labor participation (FLP) in labor decision-making and how the FLP rate affects economic development has not been sufficiently investigated. Accordingly, we first build a theoretical neoclassical economic development model that includes housing consumption factors to estimate the effect of housing price dynamics on FLP. We then use the 2017 China Family Panel Studies (CFPS) database to empirically estimate the intrinsic relationship between urban housing prices, FLP, and economic development through the lens of the balanced growth path, and we come up with four main findings. First, the theoretical model demonstrates that rising housing prices increase FLP, stimulating economic development. However, an excessive increase in housing prices will undermine women's ability to drive economic development. Second, the empirical evidence shows that a unit increase in housing prices increases the probability of FLP by 0.186%. Third, the effects of housing prices on economic development vary across China's Eastern, Central, and Northeastern regions. Finally, the threshold model shows that FLP positively influences economic development until the housing price logarithm reaches 8.8134, after which FLP's beneficial effect on economic development will be diminished.
中国的住房分配制度经历了重大变革，该国的住房市场房价迅速上涨。然而，城市房价在劳动力决策中对女性劳动参与率（FLP）的影响程度以及FLP率如何影响经济发展，尚未得到充分研究。因此，我们首先构建一个包含住房消费因素的新古典主义理论经济发展模型，以估计房价动态对FLP的影响。然后，我们使用2017年中国家庭追踪调查（CFPS）数据库，从平衡增长路径的角度实证估计城市房价、FLP和经济发展之间的内在关系，得出四个主要发现。第一，理论模型表明，房价上涨会提高FLP，刺激经济发展。然而，房价过度上涨将削弱女性推动经济发展的能力。第二，实证证据表明，房价每上涨一个单位，FLP的概率就会增加0.186%。第三，房价对经济发展的影响在中国东部、中部和东北地区各不相同。最后，门槛模型表明，在房价对数达到8.8134之前，FLP对经济发展有积极影响，之后FLP对经济发展的有益影响将减弱。
