Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/25109
Title: On FDI-led growth and the price of residential properties in Guangdong
Authors: Choy, LHT 
Ho, WKO
Mak, SWK
Keywords: Economic growth
FDI
Guangdong Province
Property prices
Issue Date: 2013
Publisher: Springer
Source: Journal of housing and the built environment, 2013, p. 1-13 How to cite?
Journal: Journal of housing and the built environment 
Abstract: Previous studies suggest that FDI inflows enhance economic growth in developing countries through spillover effects and more employment opportunities. This research attempts to go one step further by offering a theoretical framework for estimating the influence of FDI inflows on residential property prices through expanding the host country's economy. Utilizing a panel of 21 Guangdong cities from 2001 through 2009, the current study indicates that although the estimated coefficient for FDI inflows is positive and significant, its impact on prices is only modest. Moreover, most foreign real estate developers, especially those from Hong Kong, Macao and Taiwan, who concentrate on investing in commercial and deluxe residential developments, help preserve open space and green areas in less developed parts of Guangdong Province. Given that FDI inflows will not drive up property prices significantly, this research proposes that Guangdong Province, especially its inner cities, should create better business environment to attract foreign investment to develop the economies of inner cities, in order to enjoy more balanced economic growth in Guangdong.
URI: http://hdl.handle.net/10397/25109
ISSN: 1566-4910
EISSN: 1573-7772
DOI: 10.1007/s10901-013-9379-9
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