Foreign real estate investment increases employment – research
The authors found the properties are often left empty, but drive up home values and employment
Foreign real estate investment spurs economic activity and induces gentrification, says a paper published by Oxford University.
The authors are Zhimin Li, a professor of economics at Peking University, Leslie Sheng Shen, a senior economist at the Federal Reserve Bank of Boston, and Calvin Zhang, a senior financial economist at the Federal Reserve Bank of Philadelphia.
They looked at Chinese nationals’ purchases of homes in California from 2001 to 2013. They found the purchases increased local
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Economics
New NBER research sheds light on ‘cheapflation’
Savings from price discounts partially offset by price hikes for cheaper products
IMF extends higher loan caps for low-income countries
PRGT will be able to hand out bigger credits through end of 2024
Morocco gets IMF loan to deal with environmental crisis
Drought is becoming major challenge to macroeconomic stability, official says
US CPI inflation rises slightly
Rising shelter prices cause more than 90% of increase, but SF Fed predicts they will fall
Egypt announces ‘record’ inflation
Inflation continues rising despite monetary tightening and could trigger IMF consultation
Sarb deputy warns on growth prospects
Cassim says economy is “remarkable for the wrong reasons”
Blanchard and Summers say higher inflation likely to persist
Veteran economists say structural factors are likely to push up neutral rate and inflation
Spain’s De Cos calls for greater ambition in EU fiscal reforms
Redesign of fiscal rules must be supported by wider reform of financial governance, governor says