scholarly journals Identifying the Determinants of Urbanization in Prefecture-Level Cities in China: A Quantitative Analysis Based on Spatial Production Theory

2019 ◽  
Vol 11 (4) ◽  
pp. 1204 ◽  
Author(s):  
Zhen Yang ◽  
Jun Lei ◽  
Jian-Gang Li
Keyword(s):  
Real Estate ◽  
Real Estate Investment ◽  
Rural Income ◽  
Coastal Cities ◽  
Factors Influencing ◽  
Income Ratio ◽  
Urban Rural ◽  
Per Capita ◽  
Fiscal Expenditure ◽  
The Impact

China’s urbanization has attracted considerable academic attention. However, more work is required to understand and examine the driving mechanisms of urbanization, especially within the context of the transition from socialism. We used a regression model and a geographical detector technique to determine the direction and strength of factors influencing urbanization in prefecture-level cities in China. We found that China’s urbanization development model has two characteristics: administrative hierarchy and spatial agglomeration. Based on our conceptual framework, we identified the positive effect exerted by the real estate investment and per capita fiscal expenditure on urbanization, as well as the negative impact exerted by the urban–rural income ratio. The results revealed that China’s urbanization is a hybrid process: the forces from power and capital contribute to high levels of urbanization. When comparing the strength of the factors influencing urbanization between coastal and inland cities, we found that real estate investment and per capita fiscal expenditure in coastal cities have a greater impact on urbanization than in inland cities. In contrast, the impact of the urban–rural income ratio on urbanization is larger in inland cities than in coastal cities. A close examination on the factors influencing China’s rapid urbanization is the key to further advancing our understanding of the dynamic mechanisms of China’s urbanization. Our findings can help Chinese policy makers formulate more detailed urbanization strategies with consideration of regional characteristics.

scholarly journals Does Fertilizer Use Intensity Respond to the Urban-Rural Income Gap? Evidence from a Dynamic Panel-Data Analysis in China

2020 ◽  
Vol 12 (1) ◽  
pp. 430
Author(s):  
Chao Zhang ◽  
Ruifa Hu
Keyword(s):  
Generalized Method Of Moments ◽  
Policy Implications ◽  
Theil Index ◽  
Fertilizer Use ◽  
Income Gap ◽  
Provincial Level ◽  
Rural Income ◽  
Urban Rural ◽  
Per Capita ◽  
The Impact

This study aims to investigate the impact of the urban-rural income gap on fertilizer use intensity in China. A theoretical analysis of the relationship among per capita rural income, the urban-rural income gap, and fertilizer use intensity is developed, which is similar to the environmental Kuznets curve hypothesis. Both the Theil index and urban-rural income ratio are employed to measure the urban-rural income gap using a provincial-level panel dataset covering 25 provincial-level administrative regions over the period 1995–2017. The estimation results of the system Generalized Method of Moments show that the expansion of the urban-rural income gap significantly increases fertilizer use intensity. While an inverted U-shaped relationship exists between fertilizer use intensity and per capita rural income, the peak turning point is much higher than the actual per capita rural income of all provinces in China. This demonstrates that fertilizer use intensity would further increase with the growth of rural income over a period of time. In addition, a lower growth rate of the agricultural product price, larger total sown size, and technological progress are likely to reduce fertilizer use intensity. This study has several important policy implications for promoting the sustainable development of agriculture and rural areas in China. Specifically, efforts must be made to narrow the urban-rural income gap, encourage agricultural research and extension, and promote land conversion and appropriately scaled-up agricultural business.

scholarly journals The Impact of Single-Family Rental REITs on Regional Housing Markets: A Case Study of Nashville, TN

Societies ◽  
2018 ◽  
Vol 8 (4) ◽  
pp. 93 ◽  
Author(s):  
Ken Chilton ◽  
Robert Silverman ◽  
Rabia Chaudhrey ◽  
Chihaungji Wang
Keyword(s):  
Real Estate ◽  
Census Data ◽  
Housing Markets ◽  
Future Research ◽  
Individual Investors ◽  
Single Family ◽  
Real Estate Investment ◽  
Wealth Concentration ◽  
The Impact ◽  
The U.S

The U.S. Congress authorized the creation of real estate investment trusts (REITs) in 1960 so companies could develop publically traded real estate investment portfolios. REITs focus on commercial property, retail property, and rental property. During the last decade, REITs became more active in regional housing markets across the U.S. Single-family rental (SFR) REITs have grown tremendously, buying up residential properties across the country. In some regional housing markets, SFR REITs own noticeable shares of single-family homes. In those settings, SFR REITs take large numbers of housing units off of real estate markets where homeownership transactions occur and manage these properties as part of commercial rental inventories. This has resulted in a new category of multiple property owners, composed of institutional investors as opposed to individual investors, which further exacerbates property wealth concentration and polarization. This study examines the socio–spatial distribution of properties in SFR REIT portfolios to determine if SFR REIT properties tend to cluster in distinct areas. This study will focus on the regional housing market in Nashville, TN. Nashville has one of the most active SFR REIT sectors in the country. County tax assessor records were used to identify SFR REIT properties. These data were joined with U.S. Census data to create a profile of communities. The data were analyzed using SPSS statistical software and GIS software. Our analysis suggests that neighborhoods with clusters of SFR REITs fit the SFR REIT business model. Clusters occur in communities with newer homes, residents with higher levels of educational attainment, and middle to upper-middle incomes. The paper concludes with several recommendations for future research on SFR REITs.

DOES CHANGE IN ECONOMIC POLICY UNCERTAINTY AFFECT REAL ESTATE INVESTMENT TRUSTS (REITs)?

2019 ◽  
Vol 14 (04) ◽  
pp. 1950016
Author(s):  
RANJEETA SADHWANI ◽  
SURESH KUMAR OAD RAJPUT ◽  
ASAD ALI-RIND ◽  
MUHAMMAD TAHIR SULEMAN
Keyword(s):  
Economic Policy ◽  
Real Estate ◽  
Positive Relationship ◽  
Real Estate Investment Trusts ◽  
Policy Uncertainty ◽  
Real Estate Investment ◽  
Macroeconomic Variables ◽  
Economic Policy Uncertainty ◽  
Investment Trusts ◽  
The Impact

This study aims to find the impact of change in economic policy uncertainty (EPU) on the returns and volatilities of 11 CRSP Ziman value-weighted US real estate investment trusts (REITs) during 1985–2016. The results indicate that the change in EPU has a positive relationship with volatility and a negative one with the REITs returns. Among EPU components, news-based component has the major impact than the others. Change in economic policy uncertainty has a significant impact on the returns of all the indices except hybrid, healthcare and unclassified REITs after controlling for macroeconomic variables. Whereas, the volatility is mainly explained by its own past values and macroeconomic variables.

The impact of foreign direct investment on urban-rural income inequality

2016 ◽  
Vol 8 (3) ◽  
pp. 480-497 ◽  
Author(s):  
Chunlai Chen
Keyword(s):  
Economic Growth ◽  
International Trade ◽  
Income Inequality ◽  
Fixed Effects ◽  
Knowledge Spillovers ◽  
Employment Creation ◽  
Content Type ◽  
Rural Income ◽  
Urban Rural ◽  
The Impact

Purpose The purpose of this paper is to analyse the impact of foreign direct investment (FDI) on urban-rural income inequality in China. Design/methodology/approach This study uses the provincial-level panel data and employs the fixed-effects instrumental variable regression technique to investigate empirically the impact of FDI on urban-rural income inequality in China. Findings The study finds that while FDI has directly contributed to reducing urban-rural income inequality through employment creation, knowledge spillovers and contribution to economic growth, FDI has also contributed to increasing urban-rural income inequality through international trade. Practical implications The study has some policy implications. First, as the study finds that FDI not only contributes to reducing urban-rural income inequality through employment creation, knowledge spillovers and contribution to economic growth, but also contributes to increasing urban-rural income inequality through international trade, therefore, apart from improving local economic and technological conditions to attract more FDI inflows, China should re-design FDI policies by shifting away from encouraging export-oriented FDI to encouraging FDI flows into the industries and sectors in line with China’s overall economic structural adjustments and industrial upgrading. Second, policies should focus on increasing investment in infrastructure development and in public education, which not only can reduce urban-rural income inequality but also can attract more FDI inflows. And finally policies should be designed to accelerate urbanisation development by focusing on urban-rural integrated development, household registration system reform and proper settlement of rural migrants in urban areas, thus reducing urban-rural income inequality. Originality/value The paper makes two major contributions to the literature. First, the paper adopts the fixed-effects instrumental variable regression technique to deal with the endogeneity issues in estimating the impact of FDI on urban-rural income inequality, producing more consistent estimates. Second, the paper investigates not only the direct impact of FDI on urban-rural income inequality through the effects of employment creation, knowledge spillovers and contribution to economic growth, but also the indirect impact of FDI on urban-rural income inequality through its activities in international trade, adding new empirical evidence to the sparse literature on the impact of FDI on income inequality in China.

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