HOW DOES THE G20 SUMMIT AFFECT LAND MARKET? EVIDENCE FROM CHINA

HOW DOES THE G20 SUMMIT AFFECT LAND MARKET? EVIDENCE FROM CHINA

We employ the difference-in-difference and synthetic control methods to investigate the capitalization effect of hosting the G20 Summit on land market, based on China's land transaction dataset from 2011 to 2019. We find that hosting the G20 Summit has a significant positive effect on land pric...

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Veröffentlicht in:International journal of strategic property management 2021-11, Vol.25 (6), p.432-445
Hauptverfasser: Du, Xuejun, Huang, Zhonghua
Format: Artikel
Sprache:eng
Schlagworte:
Business & Economics
capitalization effect
china
Economic summit conferences
Forecasts and trends
g20 summit
Impact analysis
land price
Management
Market prices
mega-event
Prices and rates
Real estate
Real property
Site planning
Social Sciences
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Zusammenfassung:We employ the difference-in-difference and synthetic control methods to investigate the capitalization effect of hosting the G20 Summit on land market, based on China's land transaction dataset from 2011 to 2019. We find that hosting the G20 Summit has a significant positive effect on land prices in the host city, increasing land prices by over 22.6% compared to comparable cities. The impact of hosting the G20 Summit on land prices is larger in the post-G20 period than in the preparation period. Further, hosting the G20 Summit has heterogeneous and distributional effects on land prices. The capitalization effects of venue construction and transportation infrastructure upgrading on land prices are the main channels.
ISSN:1648-715X
1648-9179
DOI:10.3846/ijspm.2021.15470