编号：E-2024-11-1
题目：Cleaner Water and Higher Housing Prices: Evidence from China
作者：Run Ge, Jialin Huang, Xinzheng Shi
联系方式：Xinzheng Shi, shixzh@pku.edu.cn
摘要：Combining water monitoring station-level administrative data and transaction-level housing price data from Shanghai, China, we investigate the impact of China’s 2015 water pollution reduction policy on water pollution and housing prices. We first find that the policy significantly improved water quality of treated monitoring stations by 0.352 standard deviations. Furthermore, we find that the policy led to a 5.4% increase in the housing prices of apartments located within a 500-meter distance to the nearest treated river, but the effect disappeared for apartments located more than 500 meters away from the nearest river. Heterogeneous analysis shows that the effects on housing prices are stronger in areas with more active economy.
