文章在明确区分城市基础设施资本存量和流量的基础上，将两类变量引入共同的分析框架，利用全国31个省级面板数据对城市基础设施资本存流量和房地产开发投资空间分布之间的关系进行了实证检验。结果表明：在控制住其他影响因素后，对同一区域，城市基础设施资本流量对房地产开发投资空间分布的影响远远大于城市基础设施资本存量；对不同区域，城市基础设施资本流量规模大的区域(东部)对房地产开发投资空间分布的约束力度小于城市基础设施流量规模小的区域(中西部)。

Firstly, this paper makes a clear distinction between urban infrastructure capital stock and capital flow, and then tries to introduce the two types of variables into same analysis framework, and takes an empirical study on the relationship between the location choice of housing development investment and the capital flow and capital stock allocation of urban infrastructure by using the 31 provincial panel data. The results show that for the same area, if we control the other affecting factors, the urban infrastructure capital flow’s influence on the location choice of housing development investment is far greater than that of the urban infrastructure capital stock. And for the different area, the areas which have larger capital stock of urban infrastructure affect the location choice of housing development investment more than these areas which have small capital stock of urban infrastructure.

中国博士后科学基金面上项目(2014M560251)