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Article: On FDI-led growth and the price of residential properties in Guangdong

TitleOn FDI-led growth and the price of residential properties in Guangdong
Authors
KeywordsProperty prices
Economic growth
FDI
Guangdong Province
Issue Date2015
Citation
Journal of Housing and the Built Environment, 2015, v. 30 n. 1, p. 39-51 How to Cite?
AbstractPrevious studies suggest that FDI inflows enhance economic growth in developing countries through spillover effects and more employment opportunities. This research attempts to go one step further by offering a theoretical framework for estimating the influence of FDI inflows on residential property prices through expanding the host country's economy. Utilizing a panel of 21 Guangdong cities from 2001 through 2009, the current study indicates that although the estimated coefficient for FDI inflows is positive and significant, its impact on prices is only modest. Moreover, most foreign real estate developers, especially those from Hong Kong, Macao and Taiwan, who concentrate on investing in commercial and deluxe residential developments, help preserve open space and green areas in less developed parts of Guangdong Province. Given that FDI inflows will not drive up property prices significantly, this research proposes that Guangdong Province, especially its inner cities, should create better business environment to attract foreign investment to develop the economies of inner cities, in order to enjoy more balanced economic growth in Guangdong. © 2013 Springer Science+Business Media Dordrecht.
Persistent Identifierhttp://hdl.handle.net/10722/219731
ISSN
2015 Impact Factor: 0.81
2015 SCImago Journal Rankings: 0.648

 

DC FieldValueLanguage
dc.contributor.authorChoy, Lennon H T-
dc.contributor.authorHo, Winky K O-
dc.contributor.authorMak, Stephen W K-
dc.date.accessioned2015-09-23T02:57:50Z-
dc.date.available2015-09-23T02:57:50Z-
dc.date.issued2015-
dc.identifier.citationJournal of Housing and the Built Environment, 2015, v. 30 n. 1, p. 39-51-
dc.identifier.issn1566-4910-
dc.identifier.urihttp://hdl.handle.net/10722/219731-
dc.description.abstractPrevious studies suggest that FDI inflows enhance economic growth in developing countries through spillover effects and more employment opportunities. This research attempts to go one step further by offering a theoretical framework for estimating the influence of FDI inflows on residential property prices through expanding the host country's economy. Utilizing a panel of 21 Guangdong cities from 2001 through 2009, the current study indicates that although the estimated coefficient for FDI inflows is positive and significant, its impact on prices is only modest. Moreover, most foreign real estate developers, especially those from Hong Kong, Macao and Taiwan, who concentrate on investing in commercial and deluxe residential developments, help preserve open space and green areas in less developed parts of Guangdong Province. Given that FDI inflows will not drive up property prices significantly, this research proposes that Guangdong Province, especially its inner cities, should create better business environment to attract foreign investment to develop the economies of inner cities, in order to enjoy more balanced economic growth in Guangdong. © 2013 Springer Science+Business Media Dordrecht.-
dc.languageeng-
dc.relation.ispartofJournal of Housing and the Built Environment-
dc.subjectProperty prices-
dc.subjectEconomic growth-
dc.subjectFDI-
dc.subjectGuangdong Province-
dc.titleOn FDI-led growth and the price of residential properties in Guangdong-
dc.typeArticle-
dc.description.natureLink_to_subscribed_fulltext-
dc.identifier.doi10.1007/s10901-013-9379-9-
dc.identifier.scopuseid_2-s2.0-84888273236-
dc.identifier.hkuros233406-
dc.identifier.spage39-
dc.identifier.epage51-
dc.identifier.eissn1573-7772-

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