The Impact of Polluters' Cleanup on Land Values: Evidence From Pollution‐Intensive Industries in China
利用地理编码的土地交易数据和污染企业信息，研究发现清理2公里范围内的重污染企业可使土地价格上涨15.2%，尤其对远离市中心、商业用途和非省会城市的土地影响更大。
ABSTRACT This study utilizes geocoded land transaction data and information on industrial polluting firms to examine the impact of pollution‐intensive firm cleanup on land values in China. Our findings reveal that land parcels with cleanup of at least one heavy polluting enterprise within a 2 km radius experienced a 15.2% increase in land prices compared to those without cleanup. This effect is more pronounced for parcels situated further from the central business district, designated for commercial use, and located in smaller noncapital cities. The emergence of new clean and high‐tech firms, along with population growth post‐cleanup, are identified as primary drivers behind the upward trend in land values. However, within 500 meters of a cleanup site, there can be adverse effects on adjacent land, although overall, cleanup boosts land values.