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1 – 10 of over 1000Aimin Wang, Sadam Hussain and Jiying Yan
The purpose of this study is to conduct a thorough empirical investigation of the intricate relationship between urban housing sales prices and land supply prices in China, with…
Abstract
Purpose
The purpose of this study is to conduct a thorough empirical investigation of the intricate relationship between urban housing sales prices and land supply prices in China, with the aim of elucidating the underlying economic principles governing this dynamic interplay.
Design/methodology/approach
Using monthly data of China, the authors use the asymmetry nonlinear autoregressive distributed lag (NARDL) model to test for nonlinearity in the relationship between land supply price and urban housing prices.
Findings
The empirical results confirm the existence of an asymmetric relationship between land supply price and urban housing prices. The authors find that land supply price has a positive and statistically significant impact on urban housing prices when land supply is increasing. Policymakers should strive to strike a balance between safeguarding residents’ housing rights and maintaining market stability.
Research limitations/implications
Although the asymmetric effect of land supply price has been identified as a significant contributor in this study, it is important to note that the research primarily relies on time series data and focuses on analysis at the national level. Although time series data offer a macroscopic perspective of overall trends within a country, they fail to adequately showcase the structural variations among different cities.
Practical implications
To ensure a stable housing market and meet residents’ housing needs, policymakers must reexamine current land policies. Solely relying on restricting land supply to control housing prices may yield counterproductive results. Instead, increasing land supply could be a more viable option. By rationally adjusting land supply prices, the government can not only mitigate excessive growth in housing prices but also foster the healthy development of the housing market.
Originality/value
First, the authors have comprehensively evaluated the impact of land supply prices in China on urban housing sales prices, examining whether they play a facilitating or mitigating role in the fluctuation of these prices. Second, departing from traditional linear analytical frameworks, the authors have explored the possibility of a nonlinear relationship existing between land supply prices and urban housing sales prices in China. Finally, using an advanced NARDL model, the authors have delved deeper into the asymmetric effects of land supply prices on urban housing sales prices in China.
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Ghansham Anand, Dita Elvia Kusuma Putri and Tristania Faisa Adam
This paper aims to analyze the legal framework of land degradation in Asia and provide market shared liability as a new theory to solve a problem regarding the difficulty for…
Abstract
Purpose
This paper aims to analyze the legal framework of land degradation in Asia and provide market shared liability as a new theory to solve a problem regarding the difficulty for judges to determine the percentage of compensation for corporations responsible for land degradation. This paper aims also presents a theory to solve the problem of the vacuum of legal responsibility theory, which can make corporations proportionally responsible in terms of causing land degradation.
Design/methodology/approach
This was done through legal research methods, mainly with systematical interpretation. The approach used in this paper is conceptual, statute and comparative approach.
Findings
By analyzing the related legal norms, it can be understood that in Asian countries, such as Indonesia, Thailand and Malaysia, there are regulations regarding land degradation. However, the regulations in these countries are not specific and tend to focus on nature conservation, which has an impact on handling land degradation. Therefore, it needs special regulation to deal with land degradation. One of the things that need to be regulated about land degradation is a market shared liability.
Research limitations/implications
This research is limited to regulation in the Asia region. By analyzing the regulation, this paper will provide an analysis about the land degradation regulation mechanism in Asia and give an analysis about market shared liability as one of the solution to handling land degradation. Having the same ground rules will create synergies between countries in Asia to handle land degradation.
Originality/value
This paper is the first systematic legal research comparing regulations from three nations in Asia on land degradation and the first paper to provide market shared liability as a solution to handling land degradation.
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The results indicate that land prices exert pressure on retail performance (RP) and that the enhancement of digital means has a positive effect on RP. Additionally, digital…
Abstract
Purpose
The results indicate that land prices exert pressure on retail performance (RP) and that the enhancement of digital means has a positive effect on RP. Additionally, digital instruments (DI) play a significant moderating role in the relationship between land prices and RP.
Design/methodology/approach
This paper empirically examines the impact of land prices on RP using panel data from 239 Chinese cities between 2011 and 2022.
Findings
The use of lagged land prices as instrumental variables effectively alleviates endogeneity issues. Both two-stage least squares (2SLS) and generalized method of moments (GMM) regression results suggest that higher land prices are associated with improved RP. Further analysis reveals that the increase in land prices leads to scale effects, structural effects and technological effects, contributing to the enhancement of RP. The impact of land prices on RP becomes more pronounced in larger cities and economically developed regions experience the pressure from land prices earlier.
Originality/value
The findings of this study have practical implications for discussions on retail industry development, site selection for retail businesses and the establishment of sustainable mechanisms for expanding domestic demand.
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Valery Yakubovsky, Oleksiy Bychkov and Kateryna Zhuk
This paper aims to examine the influence of Covid-19, current war and other factors on the dynamics of real estate prices in Ukraine from 2019Q2 to 2022Q4. More specifically, the…
Abstract
Purpose
This paper aims to examine the influence of Covid-19, current war and other factors on the dynamics of real estate prices in Ukraine from 2019Q2 to 2022Q4. More specifically, the authors examine the extent of the influence of Covid-19 and war on the real estate market in Ukraine.
Design/methodology/approach
The authors monitor and accumulate information flows from the existing real estate market with their subsequent in-depth math-stat processing to examine dynamics and drivers of Ukrainian real estate prices evolution.
Findings
The study finds that the Ukrainian residential property market has experienced an average growing trend from June 2019 to December 2022, despite the strong influence of pandemic and war. The analysis shows that the impact of these factors varies across different regions and property types, with some areas and property types being more affected than others. The study also identifies the main drivers of the market evolution, including cost-sensitive factors such as floor level, overall area, housing conditions and geographical location.
Research limitations/implications
This research is oriented to analyze evolution of residential property market in Ukraine in 2019–2022 years characterized by influence of such disturbing factors as pandemic and military actions.
Practical implications
Results gained are essential for any type of Ukrainian residential market analytics implementation including but not limited to investment analysis, valuation services, collateral, insurance and taxation purposes, etc. In broader sense, it can be also useful for comparison with same type market development in other geographical arears.
Social implications
Initial data base collected and constantly monitored covers all different regions of the country that gives a broad view on the overall market development influenced by pandemic and war.
Originality/value
The lack of a reliable database of the purchase and sale of residential properties remains one of the biggest obstacles in obtaining reliable data on their market value. This considerably complicates the process of carrying out a valuation and reduces the accuracy and reliability of the results of such work. This is especially important for market which evolves in times of unrest being influenced by such strongly disturbing factors as pandemic and military actions. The originality of the study lies in the development of a complete probabilistic processing of the initial database, which provides a reliable and accurate assessment of the market evolution. The results achieved could be used by various stakeholders, such as property owners, investors, valuers, insurers, regulators and other interested customers, to make informed decisions and mitigate risks in the turbulent Ukrainian real estate market.
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Muhammad Imran, Abdul Sattar and Md Shabbir Alam
Economic ties and formation of trade blocks escalates the movement of goods among the participants and bring different economic and structural changes. Therefore, the current…
Abstract
Purpose
Economic ties and formation of trade blocks escalates the movement of goods among the participants and bring different economic and structural changes. Therefore, the current research emphasises on the distribution of market structure and industrial value added among the participant countries of China–Pakistan economic corridor project while focussing on pre and post FTA status.
Design/methodology/approach
This study utilises the footloose capital model for analysing whether China or Pakistan is more suitable for attracting factors of production to increase their share of industrial value added. For econometric analyses the current research utilises data from 1995 to 2018 and maximum likelihood effect method to assess factors that affect regional value-added distribution.
Findings
Results show that both countries owe different level of economic developments. Effect of capital is, comparatively, similar for both countries while Pakistan supports trade openness which points towards the fact of positive utilisation of abundant labour resources in Pakistan by establishing industrial structure either through domestic capital formation or foreign investment. Whereas, share of labour and trade openness of China positively affect value added production of China.
Originality/value
This is one of the unique studies that studies the regional economic treaties usefulness for any developing country across Asia. Where this study uses the footloose capital model and maximum likelihood method for its analysis which is not previously done, while for detailed analyses the study further divides the timeframe into two parts as pre-FTA ranges from 1995 to 2006, post-FTA from 2007 to 2018 while overall results consist of whole-time frame.
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Xiaoyang Zhao, Xia Mao and Yuxiu Lu
This study aims to investigate the factors affecting urban economic development in emerging economic market countries and to provide a new research perspective on urban skyscraper…
Abstract
Purpose
This study aims to investigate the factors affecting urban economic development in emerging economic market countries and to provide a new research perspective on urban skyscraper construction.
Design/methodology/approach
An empirical analysis based on a difference-in-differences (DID) model is conducted using data of urban data in China that expand into developed markets from 2003 to 2018.
Findings
The results of the spatial heterogeneity test indicate that the construction of skyscrapers has a significant promotional effect on the eastern city's economy. In contrast, it has a significant inhibitory effect in the central and western regions. Further findings demonstrate that the construction of skyscrapers can influence urban economic development by promoting industrial agglomeration, especially when the transmission effect of the diversified accumulation of tertiary industry is more prominent. The expansion analysis shows that skyscrapers have increased the level of trade in the city, and the impact on trade has an optimal height.
Research limitations/implications
This paper focuses on the economic and trade effects of skyscrapers, and the optimal height of skyscrapers needs to be discussed in more depth, which is also the next problem the researchers need to study.
Practical implications
The government should attach importance to and promote the construction of urban skyscrapers, and do a good job in overall planning and design. The city should formulate preferential policies in land, taxation, finance, system and other aspects to increase support for urban skyscraper construction and promote local economic development.
Originality/value
This study focuses on the impact of urban skyscraper construction on the economic and trade development of cities in developing countries, which not only complements the relevant research on the economic effects of urban skyscraper construction, but also helps to provide reference for the sustainable development of urbanization in many developing countries.
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Farshad Moghimi, Vahid Baradaran and Amir Hossein Hosseinian
This study aims to detect the influential factors and their respective variables that affect the effectiveness or demand-driven level of the industrial parks in Iran. A hybrid…
Abstract
Purpose
This study aims to detect the influential factors and their respective variables that affect the effectiveness or demand-driven level of the industrial parks in Iran. A hybrid procedure is sought to be developed, which embraces both qualitative and quantitative methodologies to identify the aforementioned factors and variables.
Design/methodology/approach
This study is incorporated with both qualitative and quantitative methodologies. To implement the qualitative approach, the researchers used focus groups and the related literature. The quantitative methodology has been carried out via a reliable questionnaire that obtained the viewpoints of 700 experts. The reliability of the designed questionnaire has been investigated through Cronbach’s alpha coefficient. By conducting several one-sample t-tests, it was confirmed that the identified factors and variables are significantly influential on the effectiveness of Iran’s industrial parks. The Kruskal–Wallis statistical test was used to determine the priorities of the factors. This research also used a multi-criteria decision-making method, namely, the weighted aggregates sum product assessment (WASPAS) to rank 15 industrial parks of Khorasan province in Iran according to the identified factors.
Findings
Comprehensive analyses have been conducted on the identified factors. Results indicate that the infrastructural facilities factor has the highest priority when it comes to affecting the effectiveness of the industrial parks. After that, industrial land and internal factors take the second and the third positions in terms of importance. A total of 15 industrial parks of the aforementioned province have been ranked by the WASPAS. The ranking offered by the WASPAS has been approved by the experts.
Originality/value
Based on the literature investigations, the authors were convinced that there is a scarcity of studies investigating the influential factors that affect the effectiveness or demand-driven level of industrial parks (especially in Iran). Hence, this research has been conducted to propose a procedure equipped with quantitative and qualitative techniques that detect these important factors and their subordinate variables. By means of the developed procedure of this research, it is possible to locate future industrial parks, plan for establishment of future industrial areas and plan for development of current industrial parks.
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Elizabeth Moore, Kristin Brandl, Jonathan Doh and Camille Meyer
This study aims to analyze the short-, medium- and long-term impacts of natural-resources-seeking foreign direct investment (FDI) in the form of foreign multinational enterprise…
Abstract
Purpose
This study aims to analyze the short-, medium- and long-term impacts of natural-resources-seeking foreign direct investment (FDI) in the form of foreign multinational enterprise (MNE) land acquisitions on agricultural labor productivity in developing countries. The authors analyze if these land acquisitions disrupt fair and decent rural labor productivity or if the investments provide opportunities for improvement and growth. The influence of different country characteristics, such as economic development levels and governmental protection for the rural population, are acknowledged.
Design/methodology/approach
The study analyzes 570 land acquisitions across 90 countries between 2000 and 2015 via a generalized least squares regression. It distinguishes short- and long-term implications and the moderating role of a country’s economic development level and government effectiveness in implementing government protection.
Findings
The results suggest that natural resource-seeking FDI harms agricultural labor productivity in the short term. However, this impact turns positive in the long term as labor markets adjust to the initial disruptions that result from land acquisitions. A country’s economic development level mitigates the negative short-term impacts, indicating the possibility of finding alternative job opportunities in economically stronger countries. Government effectiveness does have no influence, presumably as the rural population in which the investment is partaking is in many developing countries, not the focus of governmental protectionism.
Research limitations/implications
The findings provide interesting insights into the impact of MNEs on developing countries and particularly their rural areas that are heavily dependent on natural resources. The authors identify implications on employment opportunities in the agricultural sector in these countries, which are negative in the short term but turn positive in the long term.
Practical implications
Moreover, the findings also have utility for policymakers. The sale of land to foreign MNEs is not a passive process – indeed, developing country governments have an active hand in constructing purchase contracts. Local governments could organize multistakeholder partnerships between MNEs, domestic businesses and communities to promote cooperation for access to technology and innovation and capacity-building to support employment opportunities.
Social implications
The authors urge MNE managers to establish new partnerships to ease transitions and mitigate the negative impacts of land acquisitions on agricultural employment opportunities in the short term. These partnerships could emphasize worker retraining and skills upgrading for MNE-owned land, developing new financing schemes and sharing of technology and market opportunities for surrounding small-holder farmers (World Bank, 2018). MNE managers could also adopt wildlife-friendly farming and agroecological intensification practices to mitigate the negative impacts on local ecosystems and biodiversity (Tscharntke et al., 2012).
Originality/value
The authors contribute to the debate on the positive and negative impact of FDI on developing countries, particularly considering temporality and the rural environment in which the FDI is partaking.
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Richard M. Friend, Samarthia Thankappan, Bob Doherty, Nay Aung, Astrud L. Beringer, Choeun Kimseng, Robert Cole, Yanyong Inmuong, Sofie Mortensen, Win Win Nyunt, Jouni Paavola, Buapun Promphakping, Albert Salamanca, Kim Soben, Saw Win, Soe Win and Nou Yang
Agricultural and food systems in the Mekong Region are undergoing transformations because of increasing engagement in international trade, alongside economic growth, dietary…
Abstract
Agricultural and food systems in the Mekong Region are undergoing transformations because of increasing engagement in international trade, alongside economic growth, dietary change and urbanisation. Food systems approaches are often used to understand these kinds of transformation processes, with particular strengths in linking social, economic and environmental dimensions of food at multiple scales. We argue that while the food systems approach strives to provide a comprehensive understanding of food production, consumption and environmental drivers, it is less well equipped to shed light on the role of actors, knowledge and power in transformation processes and on the divergent impacts and outcomes of these processes for different actors. We suggest that an approach that uses food systems as heuristics but complements it with attention to actors, knowledge and power improves our understanding of transformations such as those underway in the Mekong Region. The key transformations in the region include the emergence of regional food markets and vertically integrated supply chains that control increasing share of the market, increase in contract farming particularly in the peripheries of the region, replacement of crops cultivated for human consumption with corn grown for animal feed. These transformations are increasingly marginalising small-scale farmers, while at the same time, many other farmers increasingly pursue non-agricultural livelihoods. Food consumption is also changing, with integrated supply chains controlling substantial part of the mass market. Our analysis highlights that theoretical innovations grounded in political economy, agrarian change, development studies and rural livelihoods can help to increase theoretical depth of inquiries to accommodate the increasingly global dimensions of food. As a result, we map out a future research agenda to unpack the dynamic food system interactions and to unveil the social, economic and environmental impacts of these rapid transformations. We identify policy and managerial implications coupled with sustainable pathways for change.
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This study aims to clarify the impact of agriculture–tourism integration (ATI) on in situ urbanization (ISURB) of rural residents, to highlight the role of industrial integration…
Abstract
Purpose
This study aims to clarify the impact of agriculture–tourism integration (ATI) on in situ urbanization (ISURB) of rural residents, to highlight the role of industrial integration in the process of China's ISURB and to provide industrial integration suggestions for promoting urbanization quality in Chinese counties.
Design/methodology/approach
By sorting out the panel data of China's 1868 counties, the evaluation index system of ISURB was constructed. Difference in difference (DID) and spatial Durbin-difference in difference (SDM-DID) model is used for estimate the relationship between ATI and ISURB.
Findings
First, ATI can improve ISURB by 11.4% higher than other regions. Second, theoretical analysis model of ATI on ISURB is constructed from four aspects of “drive–push–pull–block.” The results show that ATI can promote ISURB by increasing upgrading of rural industries, rural employment demand and income capacity, whereas ATI may inhibit ISURB by reducing farmland. Third, considering changes in institutional, hard and soft factors, rural collective economy, information infrastructure and digital finance all promote positive impact of ATI on ISURB. Fourth, ATI will produce spillover effects on ISURB in neighboring regions, which is more pronounced in the central and western regions.
Research limitations/implications
This study lacks quantification of ATI, so future studies are encouraged to further quantify ATI at the county level.
Practical implications
This study has policy significance for constructing ATI demonstration counties and promoting ISURB in China's counties.
Social implications
It is of great practical value to promote China's ISURB. By stimulating ATI, it can improve income and employment capacity of rural residents and stimulate ISURB of China.
Originality/value
This study enriches the theoretical and practical research on industrial integration behaviors during the process of ISURB.
Highlights
Use county data to measure in situ urbanization (ISURB)
Agriculture–tourism integration (ATI) can increase ISURB
Constructs a “drive-push-pull-block” model to explain the influence mechanism
Use spatial Durbin-difference in difference (SDM-DID) models
Consider collective economy, rural information infrastructure and digital finance
Use county data to measure in situ urbanization (ISURB)
Agriculture–tourism integration (ATI) can increase ISURB
Constructs a “drive-push-pull-block” model to explain the influence mechanism
Use spatial Durbin-difference in difference (SDM-DID) models
Consider collective economy, rural information infrastructure and digital finance
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