Yin Yuanyuan, Liu Zhang, Gao Chen
The School of Finance, Hunan University of Technology and Business, Changsha, China.
School of Economics and Trade, Hunan University of Technology and Business, Changsha, China.
Heliyon. 2024 Oct 9;10(20):e39091. doi: 10.1016/j.heliyon.2024.e39091. eCollection 2024 Oct 30.
With the rapid development of the Internet, digital technology is increasingly integrating into the modern circulation system. The influence mechanisms of land prices on the development of the circulation industry are gradually transforming. Using data from 104 major cities in China from 2003 to 2021, this study uses the panel two-way fixed effects model, moderating effects model and threshold regression method to examine the mechanisms by which land prices affect the circulation industry development and the moderating role of Internet development. The results show that elevated land prices significantly stimulate the growth of the circulation industry, leading to an expansion in the circulation industry scale, optimization of its structure, and enhancement of its facilities. The findings remain robust even after addressing endogeneity concerns and conducting various robustness tests. Moreover, the impact of high land prices on the circulation industry is more pronounced in small and medium-sized cities group as well as central region cities group. Real estate investment and industrial structure upgrading are the key channels through which high land prices promote the development of the circulation industry. Additionally, Internet development has a positive moderating effect on the promotion that high land prices stimulate the development of the circulation industry. Notably, only when Internet development surpasses a certain threshold that the promotional effect of land prices on the circulation industry development be fully realized. Based on the above conclusions, the government should continue to deepen the market-oriented reform of land elements, implement precise industrial policy support for the circulation industry and promote circulation digital transformation.
随着互联网的快速发展，数字技术日益融入现代流通体系。地价对流通产业发展的影响机制正在逐渐转变。本研究利用2003年至2021年中国104个主要城市的数据，采用面板双向固定效应模型、调节效应模型和门槛回归方法，考察地价影响流通产业发展的机制以及互联网发展的调节作用。结果表明，地价上涨显著促进了流通产业的增长，导致流通产业规模扩大、结构优化和设施提升。即使在解决了内生性问题并进行了各种稳健性检验后，研究结果依然稳健。此外，高地价对流通产业的影响在中小城市组和中部地区城市组更为明显。房地产投资和产业结构升级是高地价促进流通产业发展的关键渠道。此外，互联网发展对高地价促进流通产业发展具有正向调节作用。值得注意的是，只有当互联网发展超过一定阈值时，地价对流通产业发展的促进作用才能充分实现。基于上述结论，政府应继续深化土地要素市场化改革，对流通产业实施精准产业政策支持，推动流通数字化转型。
