中文摘要：

利用2002--2011年我国30个省区的面板数据定量分析土地出让收入、地方财政支出对房地产价格的作用效果。实证结果表明：土地出让收入、地方财政支出与房地产价格三者两两互为因果。土地出让收入与地方财政支出对房地产价格均有明显的促进作用。且地方财政支出所造成的影响要大于土地出让收入；土地出让收入与地方财政支出对房地产价格的影响具有滞后性。因此，在规范土地出让的同时还需重视地方财政支出的优化。

英文摘要：

The panel data of 30 provinces from 2002 to 2011 has been used to make the quantitative analysis about the influence on housing price by land transfer revenues and local fiscal expenditure. The empirical result shows that： land transfer revenues, local fis- cal expenditure and housing price have mutual feedback effects; the promote effect which land transfer revenues and local fiscal expend- iture have on housing price is obvious1 and the effect by local fiscal expenditure is greater; land transfer revenues and local fiscal ex- penditure have a lag effect on housing price. Thus, it is necessary to optimize the local governmentss expenditure while regularize the land transfer behavior.