Assessing the Performance of Chinese Land Lease Auctions: Evidence from Beijing

20 Pages Posted: 11 Sep 2012 Last revised: 23 Jan 2013

See all articles by Weidong Qu

Weidong Qu

Renmin University of China

Xiaodong Liu

University of Colorado at Boulder - Department of Economics

Date Written: September 10, 2012

Abstract

This paper investigates the pricing impact of the Chinese land lease auction method when compared to non-auction methods. Using land lease transactions in Beijing from 2003 to 2010, we show that, after controlling for land characteristics, the selling mechanism matters and that the auction method yields a higher land lease transaction price than non-auction selling mechanisms. More importantly, bidder type significantly affects the auction premium. This evidence seems to indicate that the results of an auction might be predictable from the bidder composition of the auction.

Keywords: China, land lease, auction

Suggested Citation

Qu, Weidong and Liu, Xiaodong, Assessing the Performance of Chinese Land Lease Auctions: Evidence from Beijing (September 10, 2012). Journal of Real Estate Research, Vol. 34, No. 3, 2012. Available at SSRN: https://ssrn.com/abstract=2144245

Weidong Qu

Renmin University of China ( email )

Room B906
Xianjin Building
Beijing, Beijing 100872
China

Xiaodong Liu (Contact Author)

University of Colorado at Boulder - Department of Economics ( email )

Campus Box 256
Boulder, CO 80309
United States

HOME PAGE: http://spot.colorado.edu/~xiaodong/

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