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Over the past 20 years, China's infrastructure has developed at an extraordinary speed. The current literature mainly focuses on the effects of political incentives on the infrastructure. However, this paper indicates that the structural change of China's land regime is an important clue and that the supernormal development of China's infrastructure is an explicable result for that.

This paper theoretically proves that in a politically centralized and economically decentralized economic entity with a public land-ownership regime, the self-financing mechanism formed by local officials through regulation of the land-grant price is the primary factor that influences the optimal supply volume of infrastructure in a region, in addition to political and economic incentives, and whether the self-financing mechanism can be formed or not depends on the structure of a country's land regime, which can help to explain the difference between the development of infrastructure in China and that in other developing countries from a theoretical angle.

The paper suggests that the mode is facing an important transformation toward land reform and new-type urbanization construction, and the replication and promotion of China's experience in infrastructure construction are of further significance under the Belt and Road Initiative as it provides a method for helping developing countries to eliminate infrastructure bottlenecks.

Through the test of multinational panel data, the paper indicates that the structural change of China's land regime around 1990 had an overall effect on the supernormal development of infrastructure in China. The paper indicates that the “land-based development mode” of China's infrastructure indeed contributed to the supernormal development of infrastructure in China, but there are still some shortcomings in this mode.

The purpose of this paper is to explore the economic performance of Norwegian crop farms using a stochastic frontier analysis.

The analysis was based on a translog cost function and unbalanced farm-level panel data for 1991–2013 from 455 Norwegian farms specialized in crop production in eastern and central regions of Norway.

The results of the analysis show that the mean efficiency was about 78–81 percent. Farm management practices and socioeconomic factors were shown to significantly affect the economic performance of Norwegian crop farms.

Farmers are getting different types of support from the government and the study does not account for the different effects of different kinds of subsidy on cost efficiency. Different subsidies might have different effects on farm performance. To get more informative and useful results, it would be necessary to repeat the analysis with less aggregated data on subsidy payments.

One implication for farmers (and their advisers) is that many of them are less efficient than the estimated benchmark (best performing farms). Thus, those lagging behind the best performing farms need to look at the way they are operating and to seek out ways to save costs or increase crop production. Perhaps there are things for lagging farmers to learn from their more productive farming neighbors. For instance, those farmers not practicing crop rotation might be well advised to try that practice.

For both taxpayers and consumers, one implication is that the contributions they pay that go to subsidize farmers appear to bring some benefits in terms of more efficient production that, in turn, increase the supply of some foods so possibly making food prices more affordable.

Unlike previous performance studies in the literature, the authors estimated farm-level economic performance accounting for the contribution of both an important farm management practice and selected socioeconomic factors. Good farm management practices, captured through crop rotation, land tenure, government support and off-farm activities were found to have made a positive and statistically significant contribution to reducing the cost of production on crop-producing farms in the Central and Eastern regions of Norway.

What is the relation between the land system with Chinese characteristics and the country's high-speed economic growth in the past decades? There is a lack of rigorous academic research based on the general equilibrium theory of macroeconomics on this issue.

By building a multisector dynamic general equilibrium framework with land system, this paper explores how the land supply mode with Chinese characteristics affects China's economic growth as well as its transmission mechanism.

This paper confirms the importance of land system with Chinese characteristics in explaining the mystery of China's high-speed economic growth. Counterfactual analysis shows that if China adopts a land system similar to that of other developing countries, GDP will drop 36% from the current level under the baseline model.

As the industrial sector shrinks relatively and the output elasticity of infrastructure decreases, this inhibitory effect will become more apparent. China should improve its land supply mode, especially expand the supply of commercial and residential land and reduce the cost of land in the service sector. This can promote better economic development in the future and thus improve household welfare and the structure of aggregate demand, replace “land-based public finance” and thus inhibit the “high leverage” risks of local governments.

The purpose of this paper is to quantify to what extent the housing bubble in the early-to-mid 2000s in Spain exacerbated land planning corruption among Spain’s largest municipalities.

The authors exploit plausibly exogenous variation in housing prices induced by changes in local mortgage market conditions; namely, the rapid expansion of savings banks (Cajas de Ahorros). Accounting for electoral competition in the 2003–2007 and 2007–2009 electoral cycles among Spanish municipalities larger than 25,000 inhabitants, the authors estimate a positive relationship between housing prices and land planning corruption in municipalities with variation in savings bank establishments using instrumental variables techniques.

A 1% increase in housing prices leads to a 3.9% points increase in the probability of land planning corruption. Moreover, absolute majority governments (not needing other parties’ support) are more susceptible to the incidence of corruption than non-majority ones. Two policy implications to address corruption emerge: enhance electoral competition and increase scrutiny over land planning decisions in sparsely populated.

First empirical evidence of a formal link between the 2000s housing bubble in Spain and land planning corruption.

The purpose of this paper is to define the Internet as a virtual space supported by technologies and presented in the form of socioeconomic relations from the perspective of political economy. The Internet space is a unique virtual commodity different from ordinary commodities and has the following effect characteristics: super replicability, space- and time-transcendence, open-source shareability and reality–virtuality transformation.

Internet space can also be imagined as a piece of virtual land. Internet space can be deemed as a piece of virtual land and its value can be divided into labor value and virtual value. The pricing model of virtual value is mainly determined by the gain and discount rate and this value comes from the transfer and markup of social value. In the context of the Internet Plus era, Internet space has become an essential economic factor that influences human economic activities.

Therefore, it is of practical significance and theoretical value to introduce Internet space as an economic variable into the framework of economic theory. The realistic logic of Internet space is to influence human economic behaviors with the combination of information binding.

The theoretical mechanism is to have an impact on the micro-market price by changing market relations from two-dimensional to three-dimensional. Its path to functioning at the macro level is to influence economic behaviors by changing the expectations of investment and consumption, resulting in new economic trends.

The purpose is to detect the nonlinearity wholesale rice price formation process in Italy in the 1995–2017 period.

A nonlinear smooth transition autoregressive (STAR)-type dynamics model is used.

Wholesale rice prices are significantly affected by variations in the international price of rice as well as variations in Arborio price.

The limitations include policy recommendations for the production and commercialization of rice in Italy.

Understanding rice pricing dynamics and nonlinearity behavior is pivotal for the survival of the entire European and Italian rice supply chain.

In the extant literature, no evidence exists on non-linearity of rice prices in Italy.

The purpose of this paper is to investigate the role of distinct types of heating technology and their price impact in German residential real estate markets, considering a wide range of other housing market determinants. The authors aim to test and to verify specifically, whether the obsolescence of heating technology leads to a significant price discount and whether higher technological standards (and environmental friendliness) come with a price premium on the market.

The authors create housing market models for rental and sales segments by constructing generalized additive models with explicit multi-layered spatial components. To elaborate a profound and contemporary answer using these models, the authors perform large-sample regression analyses based on more than 400,000 observations covering German residential properties in 2015.

First and foremost, the heating system indeed shows significant explanatory importance for measuring housing rents and purchasing price. Second, the authors find that it makes a difference whether clean “green” technologies are implemented or whether “brown” systems with obsolete technology or fossil energy sources is on hand. Ultimately, the authors conclude that while low energy consumption indeed comes with a price premium, this needs to be interpreted together with the property’s heating type, as housing markets seem to outweigh the “green premium” by “brown discounts” if low energy consumption figures are powered by a certain type of heating technology system.

Aside of a possible omitted variable bias, the main research limitation is constituted by the integration of asking prices in the analysis, as actual transaction prices are not systematically transparent on national level in Germany. Limitations are discussed at the end of the paper.

This work supports investors who face the challenge of making environmental- and energy-related decisions as well as appraisers who deliver financial fundamentals for such. Third, the paper supports both asset managers as well as investment strategists in argumentation pro-environmental investments beyond all ecological necessity.

This paper contributes to the current discussion on climate change and the eclectic role of real estate in this context. The authors deliver evidence on pricing effects as a measure of socioeconomic acceptance of progressive heating technology and environmental friendliness as an imperative of twenty-first century societies.

This is the first study on “green premiums” or “brown discounts” that includes heating technology as a potential and distinct driver of value and rents. It is a contemporary contribution and delivers original information on the quantitative impact of contemporary and anachronistic technology in heating to researchers as well as investors and appraisers.

By observing facts of the “reversal of agglomeration” of Chinese enterprises during the period of rapid Internet development and using a new economic geography model combined with the data of the real estate sector, this paper deduces the influence of the “reshaping mechanisms” of the Internet on China's economic geography based on the “gravitation mechanism” of the Internet that affects the enterprises and the “amplification mechanism” of the Internet that amplifies the dispersion force of house prices.

In the empirical aspect, the dynamic spatial panel data model is used to test the micromechanisms of the impact of the Internet on enterprises' choice of location and the instrumental variable method is used to verify the macro effects of the Internet in reshaping economic geography.

It is found that in the era of the network economy, the Internet has become a source of regional competitive advantage and is extremely attractive to enterprises. The rapidly rising house price has greatly increased the congestion cost and has become the force behind the dispersion of enterprises. China's infrastructure miracle has closed the access gap which gives full play to network externalities and promotes the movement of enterprises from areas with high house prices to areas with low house prices.

The Internet is amplifying the dispersion force of congestion costs manifested as house prices and is reshaping China's economic geography. This paper further proposes policy suggestions such as taking the Internet economy as the new momentum of China's economic development and implementing the strategy of regional coordinated development.

Over the past decades, the global solar photovoltaic (PV) market has experienced an unprecedented development associated with a substantial decline in solar PV module prices. A body of literature has attempted to identify and evaluate the different sources of price variation. However, the impact of international trade on the price of solar PV modules has not yet been empirically examined. This paper contributes to filling this gap in the literature by providing a comprehensive empirical examination on the relationship between international trade and solar PV module prices.

The author uses a sample of 15 countries over the period 2006–2015 and proposes a linear dynamic panel data model based on a new specification, including a number of relevant factors influencing solar PV module prices.

The empirical analysis reveals that an increase in imports of solar PV cells and modules is associated with a decline in solar PV module prices. This finding suggests that international trade could lead to further price reductions, thus fostering the deployment of solar PV technology. The study reveals several other important findings. Market and technological development are key factors explaining the decline in solar PV module prices. Moreover, government policies such as public budget for R&D in PV and feed-in tariff for solar PV are effective in reducing the price of solar PV modules.

This paper examines the influence of international trade, government policies, market development and technological development on solar PV module prices. The results may be of interest to both academic research and policy analysis.

This paper analyzes two external costs often associated with port development, cost to fisheries from marine dredge disposal and damages from air pollution, using estimates of development and operation for a proposed (but since cancelled) container port as a case study. For dredge disposal, a bio-economic model was used to assess short- and long-term and indirect (joodweb) damages to fisheries from marine disposal of clean sediments. In the case of air pollution, estimates of annual activity levels and emission coefficients are used to estimate incremental annual emissions of three key pollutants (NOx, HC and CO) for trucks, trains, yard vehicles, and vessels. These estimates allow for phasing in of strict new air pollution regulations. For both external costs, sensitivity analyses are used to reflect uncertainty. Estimates of shadow values in year 2002 dollars amount from $0.094 per cubic yard to $0.169 per cubic yard of clean dredged material for the selected disposal site and from $0.0584 per mile (jor current control standards) to $ 0. 0023 per mile (after phasing in of new regulations) for air pollution from heavy trucks.