关键词: 垃圾焚烧发电厂, 房价, 邻避效应, 多期双重差分

Abstract:

This paper investigates the causality between the trash-burning power plants and the residential communities' house prices surrounding them. We manually collect the monthly average house price data of the residential communities around 42 trash-burning power plants in three provinces of China, including Jiangsu, Zhejiang, and Anhui. The empirical results show us that the trash-burning power plants can significantly increase housing prices of the surrounding residential communities, with a range of 2.7-3.3%, or 295-361 CNY per square meter. At the same time, the three indirect mechanisms we test, including county-level monthly average house prices, county-level monthly GDP, and county-level environmental protection concerns of the residents, can jointly explain 42.5% of the house price changes. However, when the residential communities are located less than 4 kilometers from the trash–burning power plants or located in the upper wind, the effects of house price will no longer exist. The conclusion of this paper confirms that the residents’ concerns about real estate depreciation only exist within the limited scope of risky areas.

Key words:

trash–burning power plants, house price, not–in–my–back–yard, the time–varying difference–in–differences method