房价与产业结构升级间存在合理区间吗?——基于高级化与合理化双重视角

依据长三角41个地级市2008—2019年平衡面板数据，运用IV-GMM方法，系统考察房价对产业结构升级的影响及作用机制。结果表明：房价与产业结构高级化与合理化间存在合理区间，城市科技创新水平和基础设施水平是房价影响产业结构升级的作用机制。异质性分析显示，房价对产业结构合理化的影响在不同层级城市间存在差异性。鉴于此，地方政府应在房价与产业结构升级的合理区间内，因势利导，因城施策，实施房地产宏观调控措施，助推产业结构升级。

Is There a Reasonable Range Between Housing Prices and Industrial Structure Upgrading?--Based on the Two Perspectives of High Grade and Rationalization

Based on the balanced panel data of 41 prefecture-level cities in the Yangtze River Delta from 2008 to 2019, the IV-GMM method is applied to systematically examine the influence and mechanism of action of housing prices on industrial structure upgrading. The results show that there is a reasonable range between the housing price and the advanced and rationalized industrial structure; the level of urban science and technology innovation and the level of infrastructure are the mechanisms of action of housing price influencing the upgrading of industrial structure. The heterogeneity analysis reveals that the influence of housing prices on the rationalization of industrial structure varies among different levels of cities. In view of this, local governments should implement real estate macro-control to help upgrade industrial structure within the reasonable range between housing prices and industrial structure upgrading, and implement real estate macro-control to promote industrial structure upgrading according to the situation and city-specific policies.