scholarly journals Limits of Land Capitalization and Its Economic Effects: Evidence from China

Land ◽  
2021 ◽  
Vol 10 (12) ◽  
pp. 1346
Author(s):  
Jian Cheng ◽  
Jiangmeng Zhao ◽  
Daolin Zhu ◽  
Hui Zhang
Keyword(s):  
Land Reform ◽  
Economic Transition ◽  
Empirical Test ◽  
Economic Recession ◽  
Market Mechanism ◽  
Economic Effects ◽  
Policy Implications ◽  
Land Resource ◽  
Advantages And Disadvantages ◽  
Growth Prospects

Academic debates over the advantages and disadvantages of land capitalization are ongoing in China, but the fundamental issues behind the debate have not been adequately explored. We suggest that the core issue in land capitalization is the degree of capitalization. This study first theoretically deduced the existence of land capitalization limits; then, we used panel data from 35 key cities to conduct an empirical test, and finally we analyzed the current risk of excessive land capitalization in China. The results indicated that the mutual restriction of multiple land attributes determined the limits of land capitalization. Therefore, land capitalization has been categorized into two types—moderate and excessive—which produce different economic effects. The degree of land capitalization and real economic growth showed a significant inverted-U relationship, and the turning point appeared when the land capital value reached 2.5 times the land factor value. According to this threshold, we can infer that many key cities have been overcapitalized, which may lead to an economic recession and affect the growth prospects of China’s economy. Further analysis indicated that excessive land capitalization could be related to the unique Chinese style of decentralization. These conclusions have important policy implications for the reform of land marketization in countries undergoing economic transition. The goal of land reform is to allow the market mechanism to play a major role in land resource allocation, but the excessive capitalization of land must be prevented.

Symposium on the State and Economic Development

1990 ◽  
Vol 4 (3) ◽  
pp. 3-7 ◽  
Author(s):  
Pranab Bardhan
Keyword(s):  
Economic Development ◽  
Latin American ◽  
State Intervention ◽  
The State ◽  
Market Mechanism ◽  
State Action ◽  
South Korean ◽  
American Experience ◽  
Advantages And Disadvantages ◽  
Role Of The State

The role of the state in economic development is one of the oldest topics in economics, yet controversies rage with similar passion and camps are divided on lines today broadly similar to the early writings. Though the authors of the papers in this symposium present different views, they all refuse to pose the question as a simple choice between the market mechanism and state intervention. Larry Westphal and Albert Fishlow evaluate the South Korean and the Latin American experience, respectively, in their essential complexity. Mrinal Datta-Chaudhuri draws upon a comparative study of the Indian and East Asian cases to bring out the contradictions and complementaries in the relationship between the state and the economy. Anne Krueger's paper reflects on how the comparative advantages and disadvantages of state action flow from its organizational and incentive characteristics.

scholarly journals Crédito consignado: segmentos e efeitos econômicos

2018 ◽  
Vol 17 (2) ◽  
pp. 783-810
Author(s):  
Angélica Pott de Medeiros ◽  
Giulia Xisto de Oliveira ◽  
Reisoli Bender Filho
Keyword(s):  
Economic Recession ◽  
High Sensitivity ◽  
Variance Decomposition ◽  
Economic Effects ◽  
Short Term ◽  
Macroeconomic Variables ◽  
The Public ◽  
Short And Long Term ◽  
Vector Estimation

Resumo: O cenário de instabilidade política, a recessão econômica e as mudanças nas regras de concessão de crédito pautaram o objetivo de examinar o relacionamento do crédito consignado, por segmento de concessão, com variáveis macroeconômicas, caso do consumo, da produção industrial e do produto agregado, na última década (2007-2017). Os resultados foram obtidos por meio da estimação do vetor de correção de erros, funções de impulso-resposta e decomposição da variância, possibilitando a análise das relações de curto e de longo prazo entre as séries temporais e indicaram que as diferentes modalidades do crédito consignado implicam efeitos distintos sobre as variáveis econômicas em curto prazo. O segmento de aposentados e pensionistas impacta positivamente ambas as variáveis analisadas, com destaque para os bens de consumo das famílias. Já a concessão ao setor privado, embora represente a menor parcela do crédito consignado concedido, mostrou elevada sensibilidade a alterações na oferta dessa modalidade de crédito, enquanto que o crédito ao setor público, de maior participação, apresentou efeitos reduzidos e de curta duração.Palavras-chave: Crédito consignado. Segmentos. Economia brasileira. Payroll loans: segments and economic effects Abstract: The environment of political instability, economic recession and changes in the rules of granting credit were guiders to aim to examine the payroll loans relationship, by concession segment, with macroeconomic variables, case of consumption, industrial production and aggregate product, in the last decade (2007-2017). The results obtained by error correction vector estimation, and functions of impulse-response and variance decomposition, making it possible to analyze the short- and long-term relationships between the time series and indicated that the different modalities of payroll loans imply different effects on economic short-term variables. With retirees and pensioners segment positively impact on both analyzed variables, highlighting the household consumption goods. The concession to the private sector, although it represents the smallest portion of payroll loans granted, it showed high sensitivity to the changes of this modality. About credit to the public sector, which has the biggest portion, it showed reduced and short-term effects.Keywords: Payroll loans. Segments. Brazilian economy.

scholarly journals Analysis of Housing Market Dynamics Considering the Structural Characteristics of Mortgage Interest

2021 ◽  
Vol 13 (19) ◽  
pp. 10523
Author(s):  
Insoo Baek ◽  
Sanghyo Lee ◽  
Joosung Lee ◽  
Jaejun Kim
Keyword(s):  
Interest Rate ◽  
Interest Rates ◽  
Housing Market ◽  
Structural Characteristics ◽  
Housing Demand ◽  
Market Mechanism ◽  
Policy Implications ◽  
Mortgage Loan ◽  
Market Mechanisms ◽  
The Government

Mortgage loan interest rates consists of base interest and spread. In general, the base interest is adjusted by the government for the sustainability of the housing market. On the other hand, spread is determined by market mechanisms. Accordingly, the change pattern of base interest and spread may appear differently depending on the market situation. In the end, the effect of the government’s market intervention through interest rate policy may be different than expected. In this respect, the purpose of this paper is to analyze the effects of base interest and spread of the mortgage loan interest rate on the housing market and to derive important policy implications for the sustainability of the housing market. As a result of this study, the ineffectiveness of the government’s interest rate policies on the stability of the housing market was confirmed. The market mechanisms had more significant effects on the sustainability of the housing market than artificial political intervention. Further, housing supply policies based on the market mechanism could be more effective than housing demand policies based on interest-rate adjustments.

scholarly journals STRATEGIC PROSPECTS FOR THE IMPLEMENTATION OF LAND REFORM IN UKRAINE AND THE LAUNCH OF THE LAND MARKET

2021 ◽  
Vol 06 (04(01)) ◽  
pp. 85-91
Author(s):  
Nataliia Konoplia Nataliia Konoplia ◽  
Yaroslav Konoplia Yaroslav Konoplia
Keyword(s):  
Sustainable Development ◽  
Public Administration ◽  
Land Reform ◽  
Land Market ◽  
Land Resource ◽  
Land Protection ◽  
Reform Implementation ◽  
Land Relations ◽  
Development Goals ◽  
Conceptual Foundations

Theoretical and practical aspects of development of strategic prospects for the land reform implementation in Ukraine have been analysed, possible consequences of termination of moratorium on land sale and the need to improve management in the process of the national land reform implementation have been determined in the article. The main strategic priorities of land relations in Ukraine have been covered. The research vector is focused on taking into account principles of land resource management regulated by specific methods and forms of legal impact on the land market formation and free circulation of land in general, management in a particular area complying with theoretical foundations of basic mechanisms of public administration and regulation. The conceptual foundations of strategic prospects for the implementation of the land reform in Ukraine and the launch of the land market have been presented in the article. It has been noted that the strategic prospects for the implementation of land reform in Ukraine will make it possible to achieve economic, social and environmental effects and to implement a number of sustainable development goals. The main legislation issues and the need of certain changes, improvement of public administration in the area of land relations enabling the economic growth in Ukraine have been covered. Keywords: land market, moratorium, land reform, land protection, monetary valuation of land, strategy, sustainable development, competitiveness.

Making Innovation Development Policies Work for MENA

2020 ◽  
pp. 1733-1757
Author(s):  
Mehtap Isik
Keyword(s):  
Middle Eastern ◽  
Policy Implications ◽  
Social Characteristics ◽  
North African ◽  
Innovation Development ◽  
Development Policies ◽  
Growth Prospects ◽  
Entrepreneurial Activities ◽  
Sustainable Economic Growth

This chapter analyzes the Middle Eastern North African economies' growth prospects and investigates the role of entrepreneurial activities in achieving sustainable economic growth and social development. It explores the existing macroeconomic, political and social characteristics of the region and brings the different literatures together to understand the policy implications of theory and practices. The chapter shows that entrepreneurial activities can cure a lot of problem in the region as long as supported by the central authorities, and the region has a strong potential to be used by the entrepreneurs.

scholarly journals The Cost of Wind: Negative Economic Effects of Global Wind Energy Development

Energies ◽  
2020 ◽  
Vol 13 (14) ◽  
pp. 3667
Author(s):  
John Dorrell ◽  
Keunjae Lee
Keyword(s):  
Wind Energy ◽  
Analytical Framework ◽  
Energy Development ◽  
Economic Effects ◽  
Policy Implications ◽  
Future Research ◽  
Development Data ◽  
Abstract Level ◽  
To Come ◽  
Wind Energy Development

This paper provides a structured literature review of the negative economic effects associated with the development of wind energy and synthesized the evidence at an abstract level. We then developed an analytical framework to systematically review economic issues such as volatility, electricity price, housing values, and unemployment in relation to wind energy. Global wind energy development data from the time period from 2000 through 2019 were included for a more robust analysis. This period encompasses the vast majority of total global installed wind energy capacity. After amalgamating evidence from existing studies and data banks, we discuss the policy implications, suggest avenues for future research, and propose solutions to mitigate externalities. By understanding the negative economic impact created by the expansion of wind energy, we can better equip policy makers and developers to create more efficient and sustainable energy policy to benefit citizens and preserve the environment for generations to come.

scholarly journals Natural disasters as a development opportunity: a spatial economic resilience interpretation

2020 ◽  
Vol 40 (2) ◽  
pp. 223-249
Author(s):  
Alexandru Bănică ◽  
Karima Kourtit ◽  
Peter Nijkamp
Keyword(s):  
Natural Disasters ◽  
Public Management ◽  
Empirical Test ◽  
Economic Effects ◽  
Economic Resilience ◽  
Systematic Classification ◽  
Positive Effects ◽  
Long Run ◽  
Spatial Systems

AbstractNatural disasters are usually regarded as damage factors causing high private and social costs. Notwithstanding the incontestable validity of this premise, natural disasters do not necessarily lead to a structural deprivation of the area affected. Recent studies have clearly shown that in the long run one may even observe positive socio-economic effects (‘blessings in disguise’).This paper investigates this challenging proposition by developing a risk-disaster-opportunity framework for a territorial system, and by analysing the socio-economic impacts of natural shocks from a resilience perspective. This is inter alia done by designing a typology of natural disasters, and by presenting a systematic classification of long-range impacts.An empirical test of the above proposition of positive recovery effects of natural disasters is carried out by using, in particular, long-term data from the worldwide EM-DAT database. The attention is then focussed on positive feedback loops in spatial systems that are affected by a natural perturbation. Various case studies (USA, China, Haiti, Chile, Japan) are undertaken in order to test the existence of long-term ‘blessings in disguise’ effects, using in particular the HDI-index. In various cases, such positive effects appear to exist, depending on the effectiveness of public management of natural disaster phenomena.

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