WANG Keqiang，etc：Analysis of the Value of Land Development Rights and its Influencing Factors Based on Dynamic Optimization Model with Constraints

Abstract：This paper first constructs the model on the value of land development rights with constrained dynamic optimization model, and obtains the expressions for the value of land development rights.Then, this paper puts forward the influencing factors of land development rights combined with existing literatures, then analyzes the influencing factors using the spatial dynamic model based on four different weight matrix.This study shows that enhancing the limit of land use planning to land index will reduce the value of land development rights, and vice versa.The impact of macroeconomic variables on the value of land development rights is through the strength of unit output of construction land, agricultural land and the unit cost of land conversion.The effect of land use planning and macroeconomic variables on the value of land development right has the temporal and spatial dynamic effect.The land index the central government issued each year is the key factor of the value of land development rights, China needs to gradually abolish the land indicators for approval and annual planning management system, and to establish the system of modern land management with peer to peer responsibilities between central land local governments.

Key words： Land Development Rights    Dynamic Optimization    Spatial Dynamic Model

source:Finance & Trade Economics ,No.10,2015