State‐Led Financial Regulation and Representations of Spatial Fixity: The Example of the Spanish Real Estate Sector

This article offers a bottom‐up contribution to the fixity–motion literature. It aims to unravel the apparent contradiction of real estate spatial fixity in Spain, which is portrayed both as a barrier to accumulation and as a unique source of investment by different capitalist actors. Empirically, it describes the shifts in real estate ownership and changes in profit‐making strategies that have taken place across the real estate sector during the crisis years, and the role of the state in these shifts. The article asserts that the idea of spatial fixity representing a spatial barrier for accumulation does not necessarily apply in the Spanish case. It further claims that the tensions in capital circulation through real estate are not only to be found in the action of time, but in different state strategies pursued by various actors. The opposing representations of fixity are the result of state regulation of interest rates, taxation and risk weighting. The state also increasingly promotes land rents as a source of liquidity creation.     

Industry risk transmission channels and the spillover effects of specific determinants in China’s stock market: A spatial econometrics approach

This paper uses a spatial econometrics approach to study the industry risks in China’s stock market. We comprehensively consider the real linkage and information risk transmission channels and analyze the risk spillovers of specific determinants. Our empirical results show the following: 1) The real linkage channel and information channel are both effective transmission channels for driving spillover effects, and the information channel is of the utmost importance. 2) The spillover effects of specific determinants exist and are persistent. The superposition of spillover effects may lead to extreme risk. 3) The transmission channels and spillover effects are asymmetric in different regimes.     

Past price ‘memory’ in the housing market: testing the performance of different spatio-temporal specifications

Recent methodological developments provide a way to incorporate the temporal dimension when accounting for spatial effects in hedonic pricing. Weight matrices should decompose the spatial effects into two distinct components: bidirectional contemporaneous spatial connections; and unidirectional spatio-temporal effects from past transactions. Our iterative estimation approach explicitly analyses the role of time in price determination. The results show that both spatio-temporal components should be included in model specification; past transaction information stops contributing to price determination after eight months; and limited temporal friction is exhibited within this period. These findings highlight the decidedly non-linear temporal patterns of such information effects.     

普惠金融与县域资金外流：减贫还是致贫*——基于中国592个国家级贫困县的研究

本文利用全国592个国家级贫困县的数据，采用空间计量模型实证分析了普惠金融对县域资金外流的影响，并验证了贫困县资金外流是否会产生致贫效应。本文研究发现：如果普惠金融只注重解决贫困地区对金融机构的接触性排斥，会进一步加剧资金外流，对减贫产生负向影响，即存在显著的致贫效应。这种致贫效应具有明显的空间外溢性，邻近县域的贫困状况在很大程度上会彼此“传染”，并具有空间衰减特征的地理边界。因而需要客观认识普惠金融的本质，有针对性地选择恰当有效的实施载体，解决好对信贷产品等关键金融服务的使用性排斥问题。     

Pricing used books on Amazon.com: a spatial approach to price dispersion

This paper estimates a spatial autoregressive (SAR) model of price dispersion using publicly available internet bookselling data. It uses a semiparametric adaptive estimator that does not require the usual Gaussian assumption of maximum likelihood (ML) estimators. The results suggest that both price competition and seller heterogeneity are key drivers of the observed price dispersion. The paper finds that sellers with large sales volume, newly established sellers and US mainland states-based sellers tend to price lower. The identified significant spatial interaction is evidence of spatial price competition. Controlling for everything else, a seller asks a lower price when large sellers charge relatively high prices, which is also evidence of price-based selling and undercutting.     

中国旅游景区功能演变与用地分类构想

研究目的:基于中国旅游景区功能演变、用地特征及问题分析,构建旅游景区用地分类体系,以期为旅游景区用地纳入区域土地利用提供理论基础,为旅游景区规划的深度编制提供实践依据。研究方法:通过调研和问卷厘清现状景区用地情况,对比借鉴相关用地分类体系,基于此构建旅游景区用地分类方案。研究结果:分析并阐明了旅游景区的功能演变、用地特征和现状问题,构建了2大类、9中类、28小类的景区用地分类体系,并与《土地利用现状分类》进行衔接。研究结论:建立可衔接且具可操作性的旅游景区用地分类体系,是实现旅游景区健康可持续发展与用地规范化管控的关键。     

国土空间用途的权衡决策方法研究

研究目的:探索国土空间用途冲突协调路径,为中国"多规合一"及国土空间规划提供理论与方法指导。研究方法:在分析冲突根源的基础上建立国土空间权衡决策模型,构建"战略理性+技术理性+沟通理性"的国土空间权衡决策模式,并以丰县为例开展实证研究。研究结果:(1)国土空间利用的冲突本质上是利益相关者之间的利益冲突,只有利益权衡,没有利益优化;(2)国土空间权衡决策准则、国土空间价值评估、价值权衡和沟通定权共同组成国土空间权衡决策模式;(3)实证研究表明:经济发展战略下丰县镇村、农业、生态空间占比分别为18.51%、74.20%、7.29%,粮食安全战略下占比分别为16.07%、76.66%、7.27%,生态文明战略下占比分别为17.88%、69.06%、13.06%,权衡结果较合理。研究结论:国土空间权衡决策受国家战略驱动、以沟通为基础、以技术为手段,可有效解决国土空间用途冲突问题。     

北部湾城市群自然资本利用状况、空间分析与驱动因素

以北部湾城市群为例用三维生态足迹模型、偏最小二乘法、空间计量模型分析了其自然资本利用状况、空间相关性、驱动因素。结论:(1)城市群自然资本利用处于不可持续状态;(2)自然资本利用程度划分为低、中、高三类,城市也相应分成三类;(3)自然资本利用的主要驱动因素是人口因素、社会经济;(4)空间分析显示全局莫兰指数为正,空间集聚显著,表明自然资本利用存在空间正相关;空间误差模型拟合度最好,并证明自然资本存量占用与人口总量正相关,与GDP总额负相关。     

基于个性化的江西省乡村旅游空间分布及评价

［目的］通过对个性化的江西省乡村旅游区的空间分布进行研究，并对个性化的红色旅游资源进行评价，以期对乡村旅游的发展提供新的思考路径，建立具有个性化的乡村旅游体系。［方法］运用GIS102操作平台对江西省119个红色乡村旅游区的空间分布情况进行研究，通过计算最临近点指数、地理集中指数和核密度计算分析其空间分布特征。以资源要素价值、开发价值和社会效益组成评价层，下分14个指标，对江西省红色旅游资源进行评价研究。［结果］(1)江西省红色旅游区分布类型为集聚型，分布不均衡； (2)在评价准则层中，旅游资源要素价值权重最大，为0647 9，其次为社会效应，权重为0229 9，开发条件权重最低，为0122 2； (3)指标层权重排名前三位的依次为资源完整性、教育性和组织管理，权重值分别为0162 0,0116 5和0111 7。［结论］江西省乡村红色旅游区数量较多，但整体呈集聚型分布特点； 旅游资源要素价值权重最高，且整体资源禀赋较强，社会带动效应明显，具有极强的开发价值。     

Time-varying inter-urban housing price spillovers in China: Causes and consequences

The spatial spillovers of housing prices across regions are well documented by a large body of previous studies. This paper tries to investigate the dynamic (time-varying) evolution of spatial interactions and their underlying driving factors intensively. Using a recently developed Generalized Autoregressive Score (GAS) model, this paper examines the time-varying spatial spillovers of housing prices in 70 major and median cities of China from 2006 to 2019. We find that the GAS model can well capture the impact of time-varying critical events of Chinese real estate market on the whole. However, different regions display heterogeneous variation patterns over time. Further investigation shows that inter-regional labor mobility and trades are two major channels, accounting for 1.25% and 2.58% of the monthly standard deviations of spatial spillover effects from one city to another, respectively. We also characterize and distinguish between three time-varying patterns of spatial spillovers within different regions of China. Our results shed lights on the understanding of spatial spillovers across regional real estate markets across different city network structures within China.