Research on the Influence of Housing Price on Technological Innovation and Threshold Effect

Guozhi Liang

《World Scientific Research Journal》 7卷2期 (2021/02) Pp. 353-361

https://doi.org/10.6911/WSRJ.202102_7(2).0046

摘要

To build the Guangdong‐Hong Kong‐Macao Greater Bay Area into an international scientific and technological innovation center, we should recognize the important role of housing price in technological innovation. This paper, chooses Guangdong, Hong Kong and Macao Greater Bay Area 2007‐ 2016 years of panel data to analyse the Influences of housing price, city scale and innovation input on technological innovation, and the threshold effect of housing price by using the methods of ordinary panel regression and threshold regression. The results show that the city scale and the innovation input both promote the technological innovation; The housing price has an obvious inhibitory effect on the city's technology innovation. There are significant single threshold and double threshold effects on the impact of housing price on technological innovation. With the increase of housing price threshold value, the promotion effect of city scale on technological innovation is increasing, and the promotion effect of innovation input is decreasing. These findings indicate that it is necessary for the government to take macro‐control measures to prevent the housing price from rising too fast. At the same time, it is necessary to establish a housing price coordination mechanism in the Greater Bay Area to promote the rational distribution of innovation factors, so as to better promote scientific and technological innovation in the Greater Bay Area.

關鍵字

Housing price ； city scale ； Technological innovation ； The threshold effect

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