| ln(landarea_resi) | ln(landprice_resi) | ln(landrevenue_resi) | auction ratio |
independent variable | (1) | (2) | (3) | (4) |
career incentive | −0.946** | 1.873** | 1.473* | 0.031*** |
| (0.440) | (0.761) | (0.789) | (0.011) |
PPCpre2 | 0.064 | 0.126 | 0.192 | 0.017 |
| (0.138) | (0.237) | (0.245) | (0.022) |
PPCpre1 | −0.139 | −0.059 | −0.242 | 0.057 |
| (0.238) | (0.412) | (0.427) | (0.038) |
PPC | 0.091 | 0.178 | 0.261 | 0.016 |
| (0.159) | (0.275) | (0.284) | (0.026) |
PPCpost1 | 0.060 | 0.099 | 0.122 | 0.008 |
| (0.150) | (0.259) | (0.269) | (0.024) |
fiscal deficit ratio | 0.351 | −0.835 | 2.493*** | −0.015 |
| (0.525) | (0.908) | (0.940) | (0.085) |
GDP | −0.335 | 2.928** | 2.063 | −0.072 |
| (0.767) | (1.326) | (1.375) | (0.124) |
GDP growth rate | 1.104 | −1.314 | −1.071 | −0.298 |
| (2.522) | (4.360) | (4.569) | (0.408) |
proportion of secondary industry | −2.447 | −6.398 | −8.517 | −1.351** |