scholarly journals Does real estate bubble affect corporate innovation? Evidence from China

PLoS ONE ◽  
2021 ◽  
Vol 16 (9) ◽  
pp. e0257106
Author(s):  
Chen Wang ◽  
Xiaowei Ma ◽  
Hyoungsuk Lee ◽  
Zhen Chu
Keyword(s):  
Real Estate ◽  
Negative Impact ◽  
Economic Transformation ◽  
Rapid Expansion ◽  
New Combination ◽  
The Real ◽  
The Real Estate ◽  
Industrial Enterprises ◽  
Real Estate Bubble ◽  
D Investment

With the rapid increase of downward pressure on China’s economy, the stability of the property market, as an important part of the economic transformation process, also has a far-reaching impact on enterprises’ R&D investment. We select the data of Chinese large and medium-sized industrial enterprises from 1998 to 2015 as our research sample and propose a new combination measurement model based on closeness degree to measure the real estate bubble level in China accurately. The structural vector autoregressive (SVAR) theory is utilized to empirically test the dynamic relationship between the real estate bubble, corporate liquidity, and R&D investment. The results indicate that the real estate bubble level in China is increasing, and a certain risk of deviating from the safety interval in the future exists; The rapid expansion of the real estate bubble has a continuing negative impact on corporate R&D investment, that is, its "credit mitigation effect" is much smaller than the "capital relocation effect," and industrial enterprises will fall into the so-called "low-tech lock-in" state. In other words, to a certain extent, the development of this kind of real estate bubble will not be conducive to the transformation and upgradation of enterprises and long-term economic growth.

The real estate bubble in Ireland. Policy context and responses

2016 ◽  
Vol 9 (2) ◽  
pp. 204-218 ◽  
Author(s):  
Brendan Williams ◽  
Zorica Nedovic-Budic
Keyword(s):  
Real Estate ◽  
The Real ◽  
The Real Estate ◽  
Policy Context ◽  
Real Estate Bubble

Transforming China by Chinese Enterprises through Foreign Direct Investment: Experience of Hong Kong Real Estate Developers

2019 ◽  
Vol 6 (1) ◽  
Author(s):  
Mike C. W. Wong ◽  
Steven X. G. Chen ◽  
Lennon H. T. Choy
Keyword(s):  
Hong Kong ◽  
Real Estate ◽  
Investment Strategy ◽  
Economic Transformation ◽  
The Real ◽  
The Real Estate ◽  
Regulatory Frameworks ◽  
Before And After ◽  
Real Estate Developers ◽  
Investment Experience

Abstract Foreign Indirect Investment (FDI) has played a key role in China’s economic transformation. The real estate industry in China has been the second largest sector to fetch FDI for the nation since the opening up of the economy in 1978. Regarded as foreign investors both before and after the handover of sovereignty to China in 1997, Hong Kong based real estate developers (HK developers) took up a lion share of this form of FDI. This article reviews the literature and regulatory frameworks of FDI in the real estate sector in China. It investigates two major problems encountered by the HK developers, namely investment strategy and managing projects, and their solutions through the lens of institutional analysis.

scholarly journals La calle proyectada en el planeamiento urbanístico reciente. Murcia, 2001-2016

2021 ◽  
Vol 8 (2) ◽  
pp. 151-182
Author(s):  
Fernando Miguel García Martín ◽  
Marcos Ros Sempere ◽  
María José Silvente Martínez
Keyword(s):  
Real Estate ◽  
The Real ◽  
The Real Estate ◽  
Real Estate Bubble ◽  
Large Expansion ◽  
The Future ◽  
The City ◽  
Partial Plans

The 'prodigious decade' of Spanish urbanism caused a large expansion of urban lands, but also a much greater amount of planned but undeveloped land. The planning for this 'expectant city' is a challenge for the future of our cities. In this work, the streets proposed in these plans are analysed by evaluating their dimensional characteristics (surface and width) and their habitability (pedestrian-cyclist space and previsions of tree lines). The research is focused on the city of Murcia, paradigmatic case of the expansive urbanism typical of the real estate bubble. We have studied 2,096 streets from 92 partial plans approved during the period 2002-2013. The results show how the analysed variables change according to the use and density of the sectors and can be useful to evaluate the improvement of the habitability of these streets before their execution.

scholarly journals Prosperity or Real Estate Bubble? Exuberance Probability Index of Real Housing Prices in Chile

2021 ◽  
Vol 9 (3) ◽  
pp. 51
Author(s):  
Byron J. Idrovo-Aguirre ◽  
Francisco J. Lozano ◽  
Javier E. Contreras-Reyes
Keyword(s):  
Real Estate ◽  
Financial Market ◽  
Housing Prices ◽  
Housing Price ◽  
The Real ◽  
The Real Estate ◽  
Real Estate Price ◽  
Mortgage Interest ◽  
Real Estate Bubble ◽  
Probability Index

In this paper, we approached the concept of real estate bubble, analyzing the risk its bursting could generate for the Chilean financial market. Specifically, we analyzed the relationship between real housing prices, the economic activity index, and mortgage interest rates denominated in inflation-linked units from 1994 to 2020. The analysis was based on a second order Markov switching model with the predetermined variables mentioned later, whose parameters were obtained through the expectation–maximization algorithm. Then, we built a probability index as early warning indicator for potential imbalances in the real estate price that could put financial market stability at risk. The indicator is important to evaluate economic policy calibrations in time. A main finding was that the real housing price had a non-linear relationship with economic activity and the mortgage interest rate. Therefore, the evolution of the real estate price has been consistent with fundamental macroeconomic variables, even under a high growth regime, with increases above 12% per year. About 92% of housing price variability derived from changing macrofinancial conditions, suggesting a low margin of speculative behavior.

Economic Context of the Real Estate Bubble Crack

2020 ◽  
pp. 101-114
Author(s):  
Julián Mora Aliseda ◽  
Jacinto Garrido Velarde ◽  
Consuelo Mora
Keyword(s):  
Real Estate ◽  
Financial Institutions ◽  
Progressive Increase ◽  
Border Region ◽  
Practical Case ◽  
The Real ◽  
The Real Estate ◽  
Economic Context ◽  
Real Estate Bubble ◽  
Previous Decade

The crisis that shook the global financial institutions in 2007/08 revealed the weaknesses and irrationalities of a system that led millions of people, without compatible returns, to the category of “owners” of their home. During the previous decade, the absurd growth of supply in parallel with the progressive increase in real estate value, made housing “the hen of the golden eggs” of the regional and national economy: banks earn with a credit and families with the valuation of homes. This chapter examines the economic context in the crack of the real estate bubble and analyzes as a practical case the incidents of this crisis at international level in the border region of Extremadura.

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