The impact of the real estate market on labor productivity

Abstract

This paper studies the impact mechanism of the real estate market on labor productivity through China's urban data in recent ten years, and tests the two-way effect of its impact and further robustness test. The results indicate that on the one hand, the increase in per capita real estate investment and transaction volume has a promoting effect on the growth of labor productivity, but the expansion of market size will cause resource mismatch and thus have a inhibitory effect on labor productivity; For cities with higher productivity, the positive effect is relatively small, and the inhibitory effect is also higher than cities with lower productivity.