THE LOCATION OF FOREIGN DIRECT-INVESTMENT FOR UNITED-STATES REAL-ESTATE - AN EMPIRICAL-ANALYSIS

Citation
Da. Gerlowski et al., THE LOCATION OF FOREIGN DIRECT-INVESTMENT FOR UNITED-STATES REAL-ESTATE - AN EMPIRICAL-ANALYSIS, Land economics, 70(3), 1994, pp. 286-293
Citations number
21
Categorie Soggetti
Economics,"Environmental Studies
Journal title
ISSN journal
00237639
Volume
70
Issue
3
Year of publication
1994
Pages
286 - 293
Database
ISI
SICI code
0023-7639(1994)70:3<286:TLOFDF>2.0.ZU;2-I
Abstract
Based on site characteristics, this study examines the location prefer ences of investors from Canada, Japan, and the United Kingdom for U.S. real estate. The analysis uses the state as the unit of observation f or the 1980-1989 period. Using a random effects model that pools time- series and cross-sectional data, we identify important factors that ex plain foreign investors' real property location choice in the U.S. For eigners prefer states with large, developed, and active economies. Int erestingly, a broad measure of the state taxation variable is found to be negative and significant, suggesting that taxation is a deterrent to foreign investors.