Search results
21 – 30 of 78Mats Wilhelmsson, Vania Ceccato and Manne Gerell
This study aims to analyse the effect of gun-related violence on housing values, controlling for the area's crime levels and locational factors. Previous studies that aimed to…
Abstract
Purpose
This study aims to analyse the effect of gun-related violence on housing values, controlling for the area's crime levels and locational factors. Previous studies that aimed to find a causal connection between crime and housing values used instrument variables to solve the endogeneity problem. Here, the authors have instead been able to take advantage of the fact that shootings have occurred in random time and space. This has made it possible to estimate models to create windows around the shooting (event) and to estimate the causal effects of the shootings. Thus, the authors aim to contribute to the regression discontinuity design method in this context to estimate the short-term effects.
Design/methodology/approach
Using the regression discontinuity design method, the authors can estimate the short-term effects of shootings.
Findings
Findings from the analysis indicate that shootings directly affect those who are impacted by shootings and indirectly affect the environments where shootings occur. The indirect effect of shootings is momentary as it is capitalised directly in housing values in the immediate area. The effect also appears to be relatively long-term and persistent as housing values have not returned to the price level before the shooting 100–200 days after the shooting. The capitalisation effect is higher the closer one gets to the central parts of the city. On the other hand, the capitalisation effect is not higher or lower in areas with a higher crime rate per capita.
Originality/value
The article contributes to the previous literature in several ways. First and foremost, it provides an explicit analysis of shootings in built-up areas and their hypothesised effect on property prices through the impact on attractiveness and perceived safety. As far as the authors know, no study has analysed this issue on the international level or in Sweden. In this way, the authors aim to develop a study that can provide critical knowledge about one of the adverse effects of shootings. The authors also contribute to the literature by utilising unique data material, which allows the authors to merge information from the police about the exact location of shootings in the Stockholm area with data on sales of apartments in the same residential areas. In addition to the exact location of the shootings (coordinates), the authors also have access to data about whether the shootings led to injuries or deaths. Thus, the authors have separated the effect of shootings and fatal shootings, which has not been done before. Finally, the authors set out to highlight the results as a contribution to the debate on shootings.
Details
Keywords
This study aims to analyse the effects of China’s information and communications technology (ICT) infrastructure investment on economic growth.
Abstract
Purpose
This study aims to analyse the effects of China’s information and communications technology (ICT) infrastructure investment on economic growth.
Design/methodology/approach
Using a panel data set of China’s 30 regions during 2010–2015, this study uses the generalized method of moments (GMM) methods.
Findings
This study finds that compared with “old-type” infrastructure investment such as transport infrastructure and utility infrastructure, there is a time lag but greater effect from ICT infrastructure investment on growth and this relation is non-linear. Also, the human capital factor plays an enhancing role.
Originality/value
This study is the first of its kind that examines the relationship between ICT infrastructure investment and growth in China.
Details
Keywords
This paper aims to determine to what extent the housing affordability crisis is a “global” crisis and to what extent there is a variation across countries and over time, in who is…
Abstract
Purpose
This paper aims to determine to what extent the housing affordability crisis is a “global” crisis and to what extent there is a variation across countries and over time, in who is concerned about housing affordability.
Design/methodology/approach
The author analyses data from about 500,000 respondents from over 140 countries and uses both descriptive statistics as well as regression analysis (using a random effects within between model [Bell et al., 2019]).
Findings
The findings show that concerns about housing affordability are widespread both within and across countries but the extent of these concerns depends greatly on the country, the subgroup and the indicator analysed. Moreover, in many countries, more people worry about other aspects of life than about housing affordability.
Research limitations/implications
The global diversity in the housing affordability crisis suggests that one should be cautious when extrapolating research findings for a given country to other countries or when proposing housing policy transfer across countries.
Practical implications
The specific nature of the housing affordability crisis varies substantially across countries. Policymakers thus should be aware that there is no guarantee that a housing affordability policy that was effective in one country will also be effective in another country.
Originality/value
This paper is original in its use of the Gallup World poll, a unique survey, which is done world-wide and hence is ideally suited for the purpose of this paper, providing a much more detailed picture of the global housing crisis than so far available in the literature.
Details
Keywords
Mario Andres Fernandez and Shane L. Martin
The purpose of this paper is to assess the outcomes of a suite of affordability policies in Auckland, New Zealand, in the face of a post-COVID aftermath. Improving the access to…
Abstract
Purpose
The purpose of this paper is to assess the outcomes of a suite of affordability policies in Auckland, New Zealand, in the face of a post-COVID aftermath. Improving the access to homeownership while preserving the competitive nature of the housing market will remain a critical goal for New Zealand.
Design/methodology/approach
This paper develops a spatially delineated one-to-one matching model to assess affordable housing policies such as the targeting of houses to target population groups, a shared ownership/equity scheme and the cascading (or release) of the developed affordable houses into the broader market.
Findings
Results show that a targeting programme with an income threshold set between $120,000 and $150,000 maximises house sales, but a threshold set at $96,000 maximises the number of moderate-income households becoming homeowners. Several parameterisations of the model demonstrate the potential contradictions (or overlaps) between policy goals.
Originality/value
The contribution of this paper is a deeper understanding of the market outcomes of affordability policies, and inputs to design strategies that balance market efficiency and fairness. Also, this paper shows that stronger integration across governments (central and local) and actors of the housing market.
Details
Keywords
Atul Mehta and Joysankar Bhattacharya
The study aims to understand how various channels of financial sector development affect the income inequality across Indian states and whether the inequality widening or…
Abstract
Purpose
The study aims to understand how various channels of financial sector development affect the income inequality across Indian states and whether the inequality widening or narrowing hypothesis of financial development may be confirmed at a sub-national level.
Design/methodology/approach
Using state-wise annual data for the period from 1999-2000 to 2011-2012, a panel data analysis using generalised method of moments (GMM) estimator is conducted for a sample of 15 major Indian states.
Findings
The results confirm the inequality widening hypothesis of financial sector development in India. While each channel affects different section of the population in a different way, their overall effect on the income inequality remains unfavourable.
Originality/value
This paper is the first ever study to provide a comparative empirical evidence for the effect of each channel of financial development on the income inequality in India. The results provide significant insights to the policymakers, practitioners and academia in the financial sector with respect to the efficiency of each channel of financial development in bridging the gap between the poor and rich.
Details
Keywords
Rakhe P. Balachandran and Sarat Chandra Dhal
The dependence of farmers on money lenders for agricultural credit despite the penetration of the formal financial sector with subsidized interest rates remains an economic…
Abstract
Purpose
The dependence of farmers on money lenders for agricultural credit despite the penetration of the formal financial sector with subsidized interest rates remains an economic puzzle. The purpose of this paper is to revisit the relationship between money lenders and farmers in the presence of trade-loan nexus.
Design/methodology/approach
The study provides a theoretical framework supported by empirical evidence. It uses primary survey data of farmers in a major potato producing district of West Bengal, India. For the empirical analysis, apart from descriptive statistics, the authors use a logit regression model to derive insights from some testable hypotheses.
Findings
The study finds that trade-loan nexus increases defaults on agricultural loans through two channels: first, by increasing loan requirement and repayment obligations through high input prices and interest rates, respectively; and second, by reducing income of farmers by setting low prices for the output.
Research limitations/implications
The functioning of money lenders in rural areas, including their sources of finance and political control over local economy, and the existing social hierarchies in the rural context will have to be studied in detail to understand the complexities of the issue.
Practical implications
The findings of the study underline the need for policy initiatives to break the trade-loan nexus to reduce the dependence of farmers on money lenders.
Social implications
The higher defaults help the money lender to sustain in the rural agricultural loan market as the formal sector becomes reluctant to lend in the presence of pervasive defaults.
Originality/value
The study is entirely original based on primary survey data of seven blocks of a major potato producing district in West Bengal, India. It could be the first such study on the subject. The findings are fresh and expected to contribute to development economics and agriculture finance literature and policy making.
Details
Keywords
Asif Ur Rehman and Vincenzo M. Sglavo
Three-dimensional (3D) printing technology allows geometric complexity and customization with a significant reduction in the structural environmental impact. Nevertheless, it…
Abstract
Purpose
Three-dimensional (3D) printing technology allows geometric complexity and customization with a significant reduction in the structural environmental impact. Nevertheless, it poses a serious threat to the environment when organic binders are used. Binder jet printing of alkali-activated geopolymer precursor can represent a successful and environmental-friendly alternative.
Design/methodology/approach
The present work reports about the successful 3D printing of metakaolin-based alkali-activated concrete, with dimensional integrity and valuable mechanical behavior.
Findings
The geometric behavior was studied as a function of alkali activator flow rate, and the minimum geometric deviation with complete saturation was recorded at 103 mg/s. The printed specimen is characterized by a modulus of rupture as high as 4.4 MPa at 135 mg/s.
Practical implications
The 3D printed geopolymer-based concrete can be potentially used in a wide range of structural applications from construction to thermal insulation elements.
Originality/value
The analysis of the 3D geopolymer-based concrete printing system and material conducted in this paper is original.
Details
Keywords
Julia R. Norgaard and Alexander Chase Cartwright
These zones offer participants a wide variety of incentives and can be found in sizes ranging from a few square acres to entire large cities. The diversity among SEZs presents an…
Abstract
Purpose
These zones offer participants a wide variety of incentives and can be found in sizes ranging from a few square acres to entire large cities. The diversity among SEZs presents an opportunity for new research.
Design/methodology/approach
Special economic zones (SEZs) have grown exponentially in popularity during the past few decades, in size and scope. They are often lauded as instruments central to enhancing economic growth in developing countries. However, the empirical evidence on the relationship between SEZs and growth is inconclusive.
Findings
The analysis concludes that corruption leads to the creation of smaller zones that are likely the products of rent-seeking.
Originality/value
The authors argue that SEZs can be effective vehicles for rent-seeking, especially geographically small zones and develop an empirical model to explore the relationship between zone size and the impetus for the zone creation, namely corruption. Specifically, the authors analyze whether these small zones are vehicles of economic growth or manifestations of country wide corruption.
Details
Keywords
Amy Soon and Consilz Tan
This paper aims to investigate the housing preference and housing affordability in Malaysian housing markets. There is a lack of research on the gap between supply and demand of…
Abstract
Purpose
This paper aims to investigate the housing preference and housing affordability in Malaysian housing markets. There is a lack of research on the gap between supply and demand of houses in this market. Urbanization has increased the demand of houses in urban areas. However, the high demand in residential units increases the housing price which causes the affordability level dropped. Besides, the residences that provided by developers do not meet the expectation of the home buyers. There are three attributes that examined in this research to understand the home buyers’ preference.
Design/methodology/approach
This paper provides quantitative analysis on the housing affordability and the home buyers’ preference. This paper presents the results on the home buyers’ housing affordability and buying preference on houses. In addition, the study further confirmed the significant relationship between monthly income and type of preferred house, as well as monthly income and range of housing affordability using cross-tabulation analysis.
Findings
The findings indicated that the housing price in the current market is not affordable by most of the homebuyers and there are certain attributes that important to home buyers which should not be neglected.
Research limitations/implications
This paper helps to shed light on the planning of Malaysian housing policy especially on the issue of providing affordable housing in urban areas.
Practical implications
Policymakers shall consider the elements of economics, social acceptance and feasibility of Malaysian housing policies to achieve sustainability in Malaysian housing markets. With the current government’s move to promote housing affordability amongst B40 income groups, local government and housing developers should work together in addressing housing demand in accordance to states and ensure that there is a more targeted housing policy.
Social implications
With the detailed analysis on the home buyers’ preference, it helps to promote sustainable housing developments in meeting basic housing needs and preference.
Originality/value
This is the first study to examine relationship between Malaysian housing affordability with monthly income and type of preferred house. In the meantime, the housing affordability is compared with mean housing price and type of perceived affordable house. The paper presented homebuyer’s preference in housing for the consideration of government and housing developers in providing affordable housing.
Details
Keywords
Veronika V. Yankovskaya, Vladimir S. Osipov, Aleksei G. Zeldner, Tatiana V. Panova and Vitalii V. Mishchenko
The purpose of the article is to develop a new institutional approach to build the social market economy, which would allow balancing traditions and innovations, stability and…
Abstract
Purpose
The purpose of the article is to develop a new institutional approach to build the social market economy, which would allow balancing traditions and innovations, stability and technological progress in view of the specifics and priorities of the national economy, based on which regional models of social management will be built. The research study is performed to develop new institutional approach by the example of modern Russia by determining the institutional matrix of social management in economies of the regions that achieved the highest progress in formation of the social market economy.
Design/methodology/approach
The authors use the proprietary methodology of evaluating the level of sociality of state management in region's economy, which includes the estimate formula and the scale for qualitative treatment of the results. The research subjects are top ten regions of Russia listed in the quality of life index in the year 2019.
Findings
The authors determine the regression dependence of the sociality index of state management in region's economy on the selected factors and compile the equation of multiple linear regression, as well as determine the optimal influence of the factors on state management of region's economy for increasing its sociality to the maximum level possible.
Originality/value
The specifics of building the social market economy in Russia are determined. Based on the established national peculiarities of the social market economy in Russia, the institutional matrix of social management in the Russian regions' economy is developed and it allows for optimal balance of stability and sustainability with innovations and digitalization.
Details