Abstract
This paper studies the impact mechanism of the real estate market on labor productivity through China's urban data in recent ten years, and tests the two-way effect of its impact and further robustness test. The results indicate that on the one hand, the increase in per capita real estate investment and transaction volume has a promoting effect on the growth of labor productivity, but the expansion of market size will cause resource mismatch and thus have a inhibitory effect on labor productivity; For cities with higher productivity, the positive effect is relatively small, and the inhibitory effect is also higher than cities with lower productivity.
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