Does infrastructure spending lead to price effects in the property market? Evidence from major cities across India

被引：4

作者：

Deng, Xiaoying ^{[1
]}

Nanda, Anupam ^{[2
]}

Ong, Seow Eng ^{[3
]}

机构：

[1] Shanghai Univ Finance & Econ, Sch Publ Econ & Adm, Shanghai, Peoples R China

[2] Univ Reading, Henley Business Sch, Reading, Berks, England

[3] Natl Univ Singapore, Dept Real Estate, Singapore, Singapore

来源：

REGIONAL STUDIES | 2019年 / 53卷 / 12期

基金：

美国国家科学基金会;

关键词：

infrastructure spending; rental price; cap rate; PUBLIC INFRASTRUCTURE; INVESTMENT; PRODUCTIVITY; PERFORMANCE; SPILLOVERS; RAILROADS; DEMAND;

D O I：

10.1080/00343404.2019.1619925

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

A recent boost in spending on the public infrastructure across India raises the question: How does the property sector react to massive infrastructure construction? The answer has significant policy relevance. This paper uses panel data across seven major Indian cities, spanning seven years from 2008 to 2014, to ascertain the short- and long-run impacts of infrastructure attributes on property values and rents. The study finds that increases in the percentage of public infrastructure spending lead to a positive effect on the property capitalization rate in India, but have a negative impact on the rental market in the short term.

引用

页码：1747 / 1760

页数：14