scholarly journals MACROECONOMIC VARIABLES INFLUENCING HOUSING PRICES IN VILNIUS

2021 ◽  
Vol 0 (0) ◽  
pp. 1-11
Author(s):  
Alfredas Laurinavičius ◽  
Antanas Laurinavičius ◽  
Algimantas Laurinavičius
Keyword(s):  
Internal Migration ◽  
Inflation Rate ◽  
House Prices ◽  
Housing Prices ◽  
Gdp Per Capita ◽  
Macroeconomic Variables ◽  
Per Capita ◽  
The Way

The way macroeconomic variables such as unemployment/GDP per capita/inflation/wages/internal migration influenced housing prices (nominal house prices and housing rent prices) in Vilnius in 2006–2019 has been investigated in the research. Conditions under which different macroeconomic variables could influence housing prices were established in the research. Lower unemployment, higher GDP per capita and inflation rate were all related to higher nominal house prices in Vilnius. Higher GDP per capita, wages and internal migration were positively related to housing rent prices in Vilnius. Analyzed macroeconomic variables all together explained 88 percent of variance of nominal house prices in Vilnius over the period of 2006–2019 and 80 percent of variance of housing rent prices in Vilnius over the same period.

scholarly journals Marketing, management and financial providing of affordable housing

2021 ◽  
Vol 5 (2) ◽  
pp. 213-230
Author(s):  
Svitlana Ianchuk ◽  
Olga Garafonova ◽  
Yuliia Panimash ◽  
Dariusz Pawliszczy
Keyword(s):  
Housing Market ◽  
Affordable Housing ◽  
Social Housing ◽  
Time Lag ◽  
Generalized Method Of Moments ◽  
Housing Prices ◽  
Marketing Management ◽  
Gdp Per Capita ◽  
Local Authorities ◽  
Per Capita

Today’s rising housing prices in most countries worldwide have caused increasable attention to the problem of affordable housing. It is a social or ethical issue and an essential economic direction. Thus, affordable housing has great potential, influencing economic growth, labor forces, innovation, sustainable development, and an inclusive economy. Systematization of informational sources, theoretical and practical approaches for providing affordable housing, and assessing social housing needs indicated many views on this problem among scholars and policymakers. That is why marketing, management, and financial providing of affordable housing are significant mainstreams. The research aims to investigate marketing and management fundamentals of providing affordable housing in connection with funding aspects based on cross-country analysis. For achieving this target, key trends of housing market segmentation were analyzed, considering the distribution of the population by tenure status and analytical house price indicators using the data of the statistical office of the EU, the World Bank, and the OECD. The ways to promote more affordable housing by public and local authorities, private investors in affordable housing, and specific social and affordable housing market organizations were described. Main organizational forms of providing affordable and social housing were also characterized. Particular attention was paid to strategic planning for affordable and social housing, especially housing business plans or affordable housing strategy development as a priority step in marketing, management, and financial providing affordable housing. A SWOT analysis for affordable housing developments was used to show strengths, weaknesses, opportunities, and threats to the affordable housing market. To empirically confirm some relevant strengths, the impact of indicators of financial providing of affordable housing was formalized based on correlation analysis (calculating Pearson or Spearman correlation coefficients with time lags based on results of Shapiro-Wilk testing) and construction of Arellano–Bond linear dynamic panel-data regression model with checking the Sargan test of overidentifying restrictions (the sample from 25 EU countries for 2011–2019) using the Excel 2010 and STATA 14.2 software. The dynamic model made it possible to consider the share of affordable housing owners with mortgage or loan or the share of tenants, rent affordable housing at a reduced price or free. The value of GDP of the previous period affects the current situation (due to introducing lag variables and using instrumental variables or the generalized method of moments (GMM) to obtain adequate estimates). The hypothesis that an increase of 1% of the share of affordable housing owners with mortgage or loan causes the rise in GDP per capita of an average of 0.44% with a two-year time lag was empirically confirmed. An increase of 1% of the share of tenants, rent-free housing or affordable housing at the reduced price, causes the decrease of GDP per capita of an average of 0.5% with a two-year time lag. It was substantiated that governments should continue and improve their policies for financing social and affordable housing. At the same time, they should prefer affordable mortgage lending programs over programs of reduced or free rental housing. The results of this research confirm the significant drivers of policies and practices devoted to affordable and social housing, such as marketing, management, and financial providing. The presented recommendations are useful for scholars interested in this scientific field of research, public and local authorities, investors in affordable housing, and specific affordable and social housing organizations.

The role of governance in economic development

2014 ◽  
Vol 41 (12) ◽  
pp. 1265-1278 ◽  
Author(s):  
Muhammad Azam ◽  
Chandra Emirullah
Keyword(s):  
Economic Growth ◽  
Inflation Rate ◽  
Gdp Per Capita ◽  
Dependency Ratio ◽  
Control Variables ◽  
Content Type ◽  
The Pacific ◽  
Per Capita ◽  
Openness To Trade ◽  
The Impact

Purpose – The purpose of this paper is to explore the impact of corruption as an important element of weak governance, with control variables such as inflation rate, openness to trade and dependency ratio on gross domestic product (GDP) per capita income of nine selected countries in Asia and the Pacific. Design/methodology/approach – This study is based on an annual panel data covering the period from 1985 to 2012, and a simple multiple regression for empirical investigation is used. Both fixed effects and random effects models were used as analytical techniques. Findings – The study reveals that both corruption and inflation rate are negatively related to GDP per capita and are statistically significant. As to the impacts of the control variables i.e., dependency ratio is found to be negative and openness to trade to be statistically significant which shows a positive impact on GDP per capita. Practical implications – The results resoundingly confirmed the importance of good governance, therefore, reducing endemic corruption and controlling inflation needs to be among the foremost factors for consideration for policymakers in adopting and implementing macroeconomic and public policies. In order to be most effective in tackling corruption, it is important to get to the root of the problem. In light of the study findings, it is suggested that corruption need to be put under control and economies be made more open to attain more benefits and accelerate economic growth and development. Originality/value – Explicitly, this study provides some valuable evidence on the linkage between endemic corruption and economic growth in some Asia and the Pacific countries in particular and on developing world in general. Presumably, this is the first inclusive investigation on the subject under the study in the context of Asia and the Pacific countries and will emphatically contribute to the literature as well.

Asymmetric sensitivities of house prices to housing fundamentals: evidence from UK regions

2019 ◽  
Vol 12 (3) ◽  
pp. 442-455 ◽  
Author(s):  
Huthaifa Alqaralleh
Keyword(s):  
House Prices ◽  
Housing Prices ◽  
House Price ◽  
Housing Affordability ◽  
Star Model ◽  
Content Type ◽  
Macroeconomic Variables ◽  
North West ◽  
Country Level ◽  
The North

Purpose This paper aims to examine asymmetries in the house price cycle and to understand the dynamic of housing prices, incorporating macroeconomic variables at regional and country level, namely, housing affordability, the unemployment rate, mortgage rate and inflation rate. Design/methodology/approach To highlight significant differences in the asymmetric patterns of house prices between regions, the STAR model is adopted. Findings The authors highlight significant differences in the asymmetric patterns of house prices between regions, in which some areas showed asymmetric response over the housing cycle; here the LSTAR model outperforms other models. In contrast, some regions (the South West and the North West) showed symmetric properties in the tails of the cycle; therefore, the ESTAR model was adopted in their case. Practical implications Being limited to a few fundamentals, this study opens an avenue for further research to investigate this dynamic using in addition such demand-supply factors as land supply, construction cost and loans made for housing. These findings can also be used to examine whether other models such as ARIMA, exponential smoothing or artificial neural networks can more accurately forecast housing prices. Originality/value The present paper aims to highlight housing affordability as a cause of asymmetric behaviour in house prices. Put differently, the authors seek to understand the dynamics of housing prices with other fundamentals incorporating macroeconomic variables in regions and country level data as a means of achieving a more concise result.

scholarly journals Spatial inequality, characteristics of internal migration, and pulmonary tuberculosis in China, 2011–2017: A spatial analysis

2020 ◽  
Author(s):  
Wen-Chong He ◽  
Ke Ju ◽  
Ya-Min Gao ◽  
Pei Zhang ◽  
Yin-Xia Zhang ◽  
...  
Keyword(s):  
Spatial Variation ◽  
Internal Migration ◽  
Spatial Clustering ◽  
Rural Households ◽  
Spatial Inequality ◽  
Gdp Per Capita ◽  
Lower Income ◽  
Rural Migration ◽  
Spatial Autoregressive ◽  
Per Capita

Abstract Background: Human migration facilitate the spread of tuberculosis (TB). Migrants face an increased risk of TB infection. In this study, we aim to explore the spatial inequity of sputum smear-positive pulmonary TB (SS + PTB) in China; and the spatial heterogeneity between SS + PTB and internal migration.Methods: Notified SS + PTB cases in 31 provinces in mainland China were obtained from the national web-based PTB surveillance system database. Internal migrant data were extracted from the report on China’s migrant population development. Spatial autocorrelations were explored using the global Moran’s statistic and local indicators of spatial association. The spatial variation in temporal trends was performed using Kulldorff’s scan statistic. Fixed effect and spatial autoregressive models were used to explore the spatial inequity between SS + PTB and internal migration.Results: A total of 2 380 233 SS+PTB cases were reported in China between 2011 and 2017, of which, 1 716 382 (72.11%) were male and 663 851 (27.89%) were female. Over 70% of internal migrants were from rural households and had lower income and less education. The spatial variation in temporal trend results showed that there was an 9.9% average annual decrease in the notification rate of SS + PTB from 2011 to 2017; and spatial clustering of SS + PTB cases was mainly located in western and southern China. The spatial autocorrelation results revealed spatial clustering of internal migration each year (2011–2017), and the clusters were stable within most provinces. Internal emigration, urban-to-rural migration and GDP per capita were significantly associated with SS + PTB, further, internal emigration could explain more variation in SS + PTB in the eastern region in mainland. However, internal immigration and rural-to-urban migration were not significantly associated with SS + PTB across China. Conclusions: Our study found the spatial inequity between SS + PTB and internal migration. Internal emigration, urban-to-rural migration and GDP per capita were statistically associated with SS + PTB; the negative association was identified between internal emigration, urban-to-rural migration and SS + PTB. Further, we found those migrants with lower income and less education, and most of them were from rural households. These findings can help stakeholders to implement effective PTB control strategies for areas at high risk of PTB and those with high rates of internal migration.

Underemployment in Agriculture

New India ◽  
2020 ◽  
pp. 33-55
Author(s):  
Arvind Panagariya
Keyword(s):  
Agricultural Policy ◽  
Animal Husbandry ◽  
Gdp Per Capita ◽  
Agricultural Output ◽  
Agricultural Growth ◽  
Long Period ◽  
Self Sufficiency ◽  
History Of ◽  
Per Capita ◽  
The Way

The chapter begins with a history of agricultural policy in India. It goes on to argue that policies aimed at improving outcomes within agriculture alone cannot bring prosperity to those engaged in it. Today, agriculture employs 44 percent of India’s workforce but produces at most 17 percent of GDP. With the overall GDP per capita itself low, agricultural output per worker is extremely low, indicating gross underemployment of labor. Therefore, marketing reforms that shift prices in favor of the farmer and against intermediaries cannot go very far. With self-sufficiency in agriculture, increases in productivity will likely result in lower prices rather than higher revenues. Besides, agricultural growth rarely exceeds 4.5 percent over even a decade-long period. Scope for increased incomes through diversification within agriculture into horticulture, fisheries, and animal husbandry is also limited. The upshot is that the only avenue to increasing agricultural incomes rapidly is to pave the way for half or more of the farm workforce to migrate into industry and services.

scholarly journals BANK EFFICIENCY AND CONCENTRATION OF THE BANKING SECTOR IN THE CEE COUNTRIES

2019 ◽  
pp. 77-89
Author(s):  
Sylwester Kozak ◽  
Agata Wierzbowska
Keyword(s):  
Inflation Rate ◽  
Banking Sector ◽  
Banking System ◽  
The Other ◽  
Gdp Per Capita ◽  
Bank Capital ◽  
Bank Efficiency ◽  
Banking Market ◽  
Per Capita ◽  
The Relationship

The relationship between the structure of the banking market and efficiency of banks has been a subject of many studies for several decades. There is no uniform opinion on the correlation between these variables. The goal of the research is to investigate this relationship for 96 banks operating in eleven CEE countries in the years of 2005-2017. Bank efficiency scores are assessed with the SFA method and regressed with bank and macroeconomic characteristics. The results show that the efficiency of banks is positively affected by the concentration of the market on which they operate, as well as by the size of individual banks. This relationship is valid for all examined countries. Additionally, bank efficiency is positively impacted by improving the banking system. On the other hand, the GDP per capita, inflation rate and bank capital ratio are not conducive to bank efficiency.

scholarly journals Country’s Development as a Determinant of Early-Stage Entrepreneurial Activity

Organizacija ◽  
2013 ◽  
Vol 46 (3) ◽  
pp. 75-86 ◽  
Author(s):  
Miha Marič ◽  
Jasmina Žnidaršič ◽  
Miha Uhan ◽  
Vlado Dimovski ◽  
Marko Ferjan ◽  
...  
Keyword(s):  
Growth Rate ◽  
Public Debt ◽  
Inflation Rate ◽  
Early Stage ◽  
Entrepreneurial Activity ◽  
Gdp Per Capita ◽  
Regression Analyses ◽  
Per Capita Gdp ◽  
Per Capita ◽  
Real Growth

Our study is built on the dependence of early-stage entrepreneurial activity on GDP per capita, GDP real growth rate, unemployment rate, inflation rate, investments and public debt of different countries. We divide the early-stage entrepreneurial activity into necessity-driven and improvement-driven opportunistic entrepreneurial activity. To establish the dependencies we have conducted the regression analyses. Our three main findings are: (a) early-stage entrepreneurial activity does depend on our predictors; (b) necessity-driven entrepreneurial activity is negatively correlated to country’s development; and (c) improvement-driven opportunistic entrepreneurial activity is positively correlated to country’s development.

scholarly journals Spatial inequality, characteristics of internal migration, and pulmonary tuberculosis in China, 2011–2016: A spatial analysis

2020 ◽  
Author(s):  
Wen-Chong He ◽  
Ke Ju ◽  
Ya-Min Gao ◽  
Pei Zhang ◽  
Yin-Xia Zhang ◽  
...  
Keyword(s):  
Spatial Variation ◽  
Internal Migration ◽  
Fixed Effects ◽  
Rural Households ◽  
Spatial Inequality ◽  
Gdp Per Capita ◽  
Eastern Region ◽  
Lower Income ◽  
Increased Risk ◽  
Per Capita

Abstract Background: Human migration facilitate the spread of tuberculosis (TB). Migrants face an increased risk of TB infection. In this study, we aim to explore the spatial inequity of sputum smear-positive pulmonary TB (SS + PTB) in China; and the spatial heterogeneity between SS + PTB and internal migration.Methods: Notified SS + PTB cases in 31 provinces in mainland China were obtained from the national web-based PTB surveillance system database. Internal migrant data were extracted from the report on China’s migrant population development. Spatial autocorrelations were explored using the global Moran’s statistic and local indicators of spatial association. The spatial variation in temporal trends was performed using Kulldorff’s scan statistic. Four fixed effects models were used to explore the spatial inequity between SS + PTB and internal migration.Results: A total of 2 148 620 SS+PTB cases were reported in China between 2011 and 2016, of which, 1 549 664 (72.12%) were male and 598 956 (27.88%) were female. Over 70% of internal migrants were from rural households and had lower income and less educated. The spatial variation in temporal trend results showed that there was an 11.2% average annual decrease in the notification rate of SS + PTB from 2011 to 2016; and spatial clustering of SS + PTB cases was mainly located in western and southern China. The spatial autocorrelation results revealed significant spatial of internal migration each year (2011–2016), and the clusters were stable within most provinces. Internal emigrant and GDP per capita were significantly associated with SS + PTB, further, emigrant could explain more variation in SS + PTB in the eastern region in mainland. However, internal immigrant was not significantly associated with SS + PTB across China. Conclusions: Our study found a significant spatial inequity between SS + PTB and internal migration. Both emigration and GDP per capita were statistically associated with SS + PTB; the negative association was identified between emigrant and SS + PTB. Further, we found those migrants with lower income and less educated, and most of them were from rural households. These findings can help stakeholders to implement effective PTB control strategies for areas at high risk of PTB and those with high rates of internal migration.

scholarly journals Perkembangan Indikator Ekonomi dan Kemakmuran Indonesia Dibandingkan dengan 6 Negara Tetangga Periode 2005-2012

2014 ◽  
Vol 5 (1) ◽  
pp. 101
Author(s):  
Theresia Lesmana
Keyword(s):  
Growth Rate ◽  
Gross Domestic Product ◽  
Unemployment Rate ◽  
Inflation Rate ◽  
Secondary Data ◽  
Economic Indicator ◽  
Output Growth ◽  
Gdp Per Capita ◽  
Per Capita ◽  
Fourth Position

In this study, the writer attempts basically to look at the economic indicator from three things, there are output growth rate, unemployment rate and inflation rate. For state prosperity indicator, the writer uses Gross Domestic Product (GDP) per capita. Object of this study uses the data from seven countries. They are Indonesia, Malaysia, Thailand, Singapura, Filipina, India and Cina. Economic and state prosperity indicator is viewed from the growth of eight years period from 2005 until 2012. The writer uses secondary data that is available on websites, such as website of International Monetary Fund, Central Statistic Body and etc. The analysis shows that Indonesia is at fourth position for output growth rate, sixth position for unemployment rate, the second position for inflation rate and the highest position for GDP per capita.

scholarly journals THE DYNAMIC RELATIONSHIP BETWEEN HOUSE PRICES AND OUTPUT: EVIDENCE FROM US METROPOLITAN AREAS

2015 ◽  
Vol 19 (4) ◽  
pp. 336-345 ◽  
Author(s):  
Nicholas APERGIS ◽  
Beatrice D. SIMO-KENGNE
Keyword(s):  
House Prices ◽  
Housing Prices ◽  
National Level ◽  
House Price ◽  
Personal Income ◽  
Annual Data ◽  
Metropolitan Statistical Area ◽  
Long Run ◽  
Per Capita ◽  
Capita Personal Income

This paper investigates the long-run and short-term dynamics of 351 US metropolitan statistical area housing prices in relation to personal income. We apply a panel cointegration approach on annual data from 1993 to 2011 and find a long-run relationship between local house prices and per capita personal income. The causal direction is then assessed based on an autoregressive distributed lag specification that also accommodates for error-correction. Results from Granger-causality tests reveal the existence of a bi-directional causality between real house prices and real per capita personal income over both long and short-horizons. Our results continue to be robust, when our bivariate system is extended to include additional MSA-level (employment and population) and national-level variables (real stock price and mortgage interest rate). We conclude that changes in personal income can predict house price movements and vice versa.

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