Contemporary Finance & Economics ›› 2024, Vol. 0 ›› Issue (8): 3-16.

• Theoretical Economics •     Next Articles

Inclusive Environmental Perception and Residential Property Allocation

QIN Yu1, DENG Xin2, BAI Yang3   

  1. 1. Institute of Industrial Economics, CASS, Beijing 100006;
    2. North China University of Technology, Beijing 100144;
    3. China Development Bank, Beijing 100033, China
  • Received:2023-09-10 Revised:2023-12-08 Online:2024-08-15 Published:2024-08-02

Abstract: Human being is the core element of regional economic and social development. An inclusive regional environment, including culture, institution, working and living, is crucial in attracting talents and facilitating housing allocation. Based on the micro-data from the Inclusive Green Development Follow-Up Survey by the Chinese Academy of Social Sciences, this paper conducts an empirical study. The findings are as follows: firstly, the perception of an inclusive environment has a significant positive effect on residents’ housing allocation. With the number of traditional Chinese brands and the number of imperial examination graduates during the Ming and Qing dynasties used as instrumental variables in the model, a 1% increase in residents’ perception of regional inclusiveness will increase the likelihood of housing allocation in the area by 0.582% and 0.201%, respectively. Secondly, a high level of regional inclusive environment is more conducive to attracting talents to settle and allocate housing. However, it also produces a“crowding out”effect on the relatively disadvantaged groups. The mechanism analysis shows that a more inclusive environment can enhance residents’ confidence in regional economic and social development and asset appreciation, as well as their happiness in life and work, thereby increasing the likelihood of their settling and housing allocation in the area. The above conclusions indicate that the construction of an inclusive regional environment can enhance residents’ willingness to allocate housing locally, which has a positive significance in attracting talents inflow. However, with the improvement of regional inclusiveness and the influx of population, special attention should be paid to the urban integration of relatively vulnerable groups.

Key words: inclusive environment, housing allocation, resident confidence, resident happiness

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