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International office investment in global cities: the production of financial space and systemic risk

Lizieri, C. and Pain, K. (2014) International office investment in global cities: the production of financial space and systemic risk. Regional Studies, 48 (3). pp. 439-455. ISSN 1360-0591 (special Issue: Finance, business property and urban and regional development )

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To link to this item DOI: 10.1080/00343404.2012.753434

Abstract/Summary

The paper explores the relationships between UK commercial real estate and regional economic development as a foundation for the analysis of the role of real estate investment in local economic development. Linkages between economic growth, development, real estate performance and investment allocations are documented. Long-run regional property performance is not the product of long-run economic growth, and weakly related to indicators of long-run supply and demand. Changes in regional portfolio weights seem driven by neither market performance nor underlying fundamentals. In the short run, regional investment shifts show no clear leads or lags with market performance.

Item Type:Article
Refereed:Yes
Divisions:Henley Business School > Real Estate and Planning
ID Code:31040
Publisher:Routledge

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