ln(landarea_resi)

ln(landprice_resi)

ln(landrevenue_resi)

auction ratio

(1)

(2)

(3)

(4)

career incentive

−0.782*

1.865**

1.396*

0.202***

(0.439)

(0.769)

(0.799)

(0.073)

tenure length

−0.260***

0.064

−0.158

−0.004

(0.095)

(0.167)

(0.173)

(0.016)

tenure length square

0.021**

−0.009

0.009

0.001

(0.009)

(0.016)

(0.017)

(0.002)

fiscal deficit ratio

0.156

−0.948

2.780***

0.029

(0.522)

(0.912)

(0.948)

(0.086)

GDP

−0.321

2.903**

2.110

−0.098

(0.774)

(1.354)

(1.408)

(0.128)

GDP growth rate

1.071

−1.946

−1.862

−0.378

(2.503)

(4.379)

(4.605)

(0.413)

proportion of secondary industry

−2.237

−6.336

−8.316

−1.282**

(3.506)

(6.125)

(6.364)

(0.580)

proportion of tertiary industry

2.105

−0.359

0.570

−0.402

(3.013)

(5.259)

(5.453)

(0.498)

ln (fixed asset investment)

0.310

−0.359

−0.879

−0.022

(0.322)

(0.564)

(0.588)

(0.053)

urban ratio

1.456

−2.221

−2.558

0.191

(0.892)

(1.598)

(1.759)

(0.148)

population growth rate

0.425

2.091

2.740

−0.515

(1.957)

(3.410)

(3.549)

(0.324)

ln (population density)

1.079***

1.405*

0.549

−0.012

(0.415)

(0.726)

(0.753)

(0.068)

ln (PCDI)

0.300

−0.173

0.213

0.272*

(0.909)

(1.590)

(1.650)

(0.150)

ln (urban road area)

0.441*

−0.003

0.175

0.025

(0.245)

(0.441)

(0.483)

(0.041)