ln(landarea_resi)

ln(landprice_resi)

ln(landrevenue_resi)

auction_ratio

(1)

(2)

(3)

(4)

career incentive

−1.145**

1.963**

1.498*

0.209***

(0.472)

(0.810)

(0.842)

(0.073)

career incentive of predecessor

−0.496

0.164

−0.252

0.013

(0.415)

(0.710)

(0.738)

(0.063)

fiscal deficit ratio

0.230

−0.803

2.579***

0.002

(0.526)

(0.901)

(0.934)

(0.084)

GDP

−0.484

2.844**

1.855

−0.064

(0.776)

(1.332)

(1.382)

(0.124)

GDP growth rate

0.876

−2.415

−2.545

−0.377

(2.535)

(4.351)

(4.562)

(0.406)

proportion of secondary industry

−2.181

−5.721

−7.671

−1.414**

(3.557)

(6.096)

(6.317)

(0.570)

proportion of secondary industry

2.022

0.078

0.790

−0.525

(3.043)

(5.213)

(5.395)

(0.488)

ln(fixed asset investment)

0.350

−0.126

−0.564

−0.008

(0.331)

(0.569)

(0.591)

(0.053)

urban ratio

1.626*

−2.104

−2.299

0.179

(0.904)

(1.592)

(1.745)

(0.145)

population growth rate

0.565

2.276

3.057

−0.450

(1.913)

(3.271)

(3.396)

(0.306)

ln(population density)

0.936*

2.862***

2.309**

−0.018

(0.550)

(0.950)

(0.984)

(0.088)

ln(PCDI)

0.280

−0.324

0.042

0.237

(0.923)

(1.582)

(1.639)

(0.148)

ln(urban road area)

0.570**

0.054

0.339

0.011

(0.249)

(0.439)

(0.480)

(0.040)

city fixed effect

yes

yes

yes

yes

time fixed effect

yes

yes

yes

yes

province specific time trend

yes

yes

yes

yes

constant

−80.419

178.675*

58.274

11.371

(53.864)

(94.427)

(98.124)

(8.618)

observations

402

398

398

402

R-squared

0.589

0.403

0.618

0.115

number of city

46

46

46

46