Willing to pay more for high-quality schools?
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- Yang Linchuan
- Faculty of Architecture, the University of Hong Kong
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- Wang Bo
- Department of Geography, the University of Hong Kong
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- Zhang Yunyi
- Shanghai Digital Intelligence System Technology Co.Ltd
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- Ye Ziwei
- Taubman College of Architecture and Urban Planning, University of Michigan
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- Wang Yuzhuo
- China Academy of Urban Planning and Design
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- Li Pengfei
- School of Architecture and Civil Engineering, Xiamen University, Xiamen
Bibliographic Information
- Other Title
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- A hedonic pricing and propensity score matching approach
Abstract
<p>Principally, the enrolment of elementary school in China is solely based on residential location. Due to the scarcity of prestigious schools, the household registration (or hukou in Chinese) and the territorial-based school admission policy, a feasible approach for parents to provide the children with good education is to purchase the house in the attendance zone of a high-quality school (or xuequfang in Chinese). The supply-demand imbalance gives rise to the xuequfang phenomenon (much higher prices of xuequfang relative to non xuequfang). Based on 1250 housing samples in 286 multi- or high-storey residential districts, this paper firstly develops two basic and four Box-Cox transformed hedonic price models to estimate the effect of high-quality schools on residential property prices. The consistency of six models greatly enhances the credibility of this study. Moreover, complementary, the propensity score matching technique is used to estimate the treatment effect. The two methods consistently suggest that residential property values are affected by top-tier schools. They reveal that xuequfang exhibit values that are between 9.3% and 12.1% higher than non-xuequfang, ceteris paribus. The negative influences of the xuequfang phenomenon and several countermeasures (gradually reforming household registration system, optimizing resource distribution to balance the quality of education, highlighting family education and children’s all-round development) are discussed. </p>
Journal
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- International Review for Spatial Planning and Sustainable Development
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International Review for Spatial Planning and Sustainable Development 6 (1), 45-62, 2018
International Community of Spatial Planning and Sustainable Development
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Keywords
Details 詳細情報について
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- CRID
- 1390282680480876928
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- NII Article ID
- 130006309775
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- ISSN
- 21873666
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- Text Lang
- en
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- Data Source
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- JaLC
- Crossref
- CiNii Articles
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- Abstract License Flag
- Disallowed