Application of panel data-generalized method of moments on the impact of urban output

Abstract

This article summarized the mechanism of the impact of real estate tax on city output path, on the basis of selecting the Chinese provincial panel data from 2005 to 2019, by using the PD - GMM method. The real estate tax was taken as the core explanation variable, and was added a lot of control variables to establish the impact of real estate tax on city output 7 panel data models. We estimated and analyzed the robustness through Eviews software. Research results showed that: (1) from the national level, the real estate industry tax would have a significant effect on urban output, and there is a U shaped relationship between the output and the real estate tax and cities. At the beginning of the urban development, the city real estate tax inhibited output, when the urban economy was in the period of high quality development. The real estate tax on urban output result, had obvious function. (2) At the regional level, the real estate tax in the eastern region had a negative inhibitory effect on the urban revenue, while the real estate tax in the western region had a significant promoting effect on the urban revenue, and the influence degree was shown as the eastern>western>middle. (3) The more real estate investment and human capital are tilted to the west, the more favorable the development of the western region, while the impact on the eastern and central regions was not significant.