메뉴 건너뛰기




Volumn 33, Issue 3, 2006, Pages 413-433

Impact of political incidents, financial crises, and severe acute respiratory syndrome on Hong Kong property buyers

Author keywords

[No Author keywords available]

Indexed keywords

FINANCIAL CRISIS; HOUSING MARKET; POLITICAL INSTABILITY; PROPERTY MARKET; SEVERE ACUTE RESPIRATORY SYNDROME; STATISTICAL ANALYSIS;

EID: 33745165925     PISSN: 02658135     EISSN: None     Source Type: Journal    
DOI: 10.1068/b31125a     Document Type: Article
Times cited : (15)

References (89)
  • 3
    • 2442628520 scopus 로고    scopus 로고
    • "Oil shocks and aggregate macroeconomic behaviour: The role of monetary policy - A reply"
    • Bernanke B S, Gertler M, Watson M W, 2004, "Oil shocks and aggregate macroeconomic behaviour: the role of monetary policy - a reply" Journal of Credit, Money and Banking 36 287-291
    • (2004) Journal of Credit, Money and Banking , vol.36 , pp. 287-291
    • Bernanke, B.S.1    Gertler, M.2    Watson, M.W.3
  • 4
    • 84986173198 scopus 로고    scopus 로고
    • "Environmental effects on residential property values resulting from the contamination effects of a creosote plant site"
    • Bible D S, Hsieh C, Joiner G, Volentine D W, 2002, "Environmental effects on residential property values resulting from the contamination effects of a creosote plant site" Property Management 20 383-391
    • (2002) Property Management , vol.20 , pp. 383-391
    • Bible, D.S.1    Hsieh, C.2    Joiner, G.3    Volentine, D.W.4
  • 7
    • 0019924916 scopus 로고
    • "The specification of hedonic indexes for urban housing"
    • Butler R V, 1982, "The specification of hedonic indexes for urban housing" Land Economics 58 97-108
    • (1982) Land Economics , vol.58 , pp. 97-108
    • Butler, R.V.1
  • 8
    • 27744557087 scopus 로고    scopus 로고
    • "Political uncertainty and the real estate risk premiums in Hong Kong"
    • Chau K W, 1997, "Political uncertainty and the real estate risk premiums in Hong Kong" Journal of Real Estate Research 13 297-315
    • (1997) Journal of Real Estate Research , vol.13 , pp. 297-315
    • Chau, K.W.1
  • 9
    • 7444256658 scopus 로고    scopus 로고
    • "The effects of improvement in public transport capacity on residential price gradient in Hong Kong"
    • Chau K W, Ng F F, 1998, "The effects of improvement in public transport capacity on residential price gradient in Hong Kong" Journal of Property Valuation and Investment 16 397-410
    • (1998) Journal of Property Valuation and Investment , vol.16 , pp. 397-410
    • Chau, K.W.1    Ng, F.F.2
  • 11
    • 33745138677 scopus 로고    scopus 로고
    • "Hedonic price modelling of environmental attributes: A review of the literature and a Hong Kong case study"
    • Eds L W C Lai, F T Lorne (Nova Science, New York)
    • Chau J W, Yiu C Y, Wong S K, Lai L W C, 2003, "Hedonic price modelling of environmental attributes: a review of the literature and a Hong Kong case study", in Implementing and Understanding Sustainable Development Eds L W C Lai, F T Lorne (Nova Science, New York) pp 87-110
    • (2003) Implementing and Understanding Sustainable Development , pp. 87-110
    • Chau, J.W.1    Yiu, C.Y.2    Wong, S.K.3    Lai, L.W.C.4
  • 13
    • 84986159794 scopus 로고    scopus 로고
    • "The value of the provision of a balcony in apartments in Hong Kong"
    • Chau K W, Wong S K, Yiu C Y, 2004, "The value of the provision of a balcony in apartments in Hong Kong" Property Management 22 250-264
    • (2004) Property Management , vol.22 , pp. 250-264
    • Chau, K.W.1    Wong, S.K.2    Yiu, C.Y.3
  • 16
    • 0000334427 scopus 로고    scopus 로고
    • "Residential hedonic models: A rational expectations approach to age effects"
    • Clapp J, Giacotto C, 1998, "Residential hedonic models: a rational expectations approach to age effects" Journal of Urban Economics 44 415-437
    • (1998) Journal of Urban Economics , vol.44 , pp. 415-437
    • Clapp, J.1    Giacotto, C.2
  • 18
    • 0033510671 scopus 로고    scopus 로고
    • "Who was first? An examination of an early hedonic study"
    • Colwell P, Dilmore G, 1999, "Who was first? An examination of an early hedonic study" Land Economics 75 620-626
    • (1999) Land Economics , vol.75 , pp. 620-626
    • Colwell, P.1    Dilmore, G.2
  • 20
    • 0000111137 scopus 로고
    • "The effects of greenbelts on residential property valuation: Some findings on the political economy of open space"
    • Correll M R, Lillydahl J H, Singell L D, 1978, "The effects of greenbelts on residential property valuation: some findings on the political economy of open space" Land Economics 54 207-217
    • (1978) Land Economics , vol.54 , pp. 207-217
    • Correll, M.R.1    Lillydahl, J.H.2    Singell, L.D.3
  • 21
    • 0001915862 scopus 로고
    • "Hedonic price indexes with automotive examples"
    • papers presented at a joint meeting of the American Statistical Association and the Econometric Society, in Detroit, Michigan, 27 December 1938, General Motors Corporation, New York
    • Court A T, 1939, "Hedonic price indexes with automotive examples", in The Dynamics of Automobile Demand papers presented at a joint meeting of the American Statistical Association and the Econometric Society, in Detroit, Michigan, 27 December 1938, General Motors Corporation, New York
    • (1939) The Dynamics of Automobile Demand
    • Court, A.T.1
  • 22
    • 0008506946 scopus 로고    scopus 로고
    • "The impact of parks on property values: A review of the empirical evidence"
    • Crompton J L, 2001, "The impact of parks on property values: a review of the empirical evidence" Journal of Leisure Research 33 1-31
    • (2001) Journal of Leisure Research , vol.33 , pp. 1-31
    • Crompton, J.L.1
  • 23
    • 0002527297 scopus 로고    scopus 로고
    • "Rental amenities and the stability of hedonic prices: A comparative analysis of five market segments"
    • Des Rosiers F, Theriault M, 1996, "Rental amenities and the stability of hedonic prices: a comparative analysis of five market segments" Journal of Real Estate Research 12 17-36
    • (1996) Journal of Real Estate Research , vol.12 , pp. 17-36
    • Des Rosiers, F.1    Theriault, M.2
  • 24
    • 0006024598 scopus 로고    scopus 로고
    • House Prices and Spatial Dependence: Towards an Integrated Procedure to Model Neighborhood Dynamics
    • Faculty of Business Administration, Laval University, Quebec
    • Des Rosiers F, Theriault M, 1999 House Prices and Spatial Dependence: Towards an Integrated Procedure to Model Neighborhood Dynamics Faculty of Business Administration, Laval University, Quebec
    • (1999)
    • Des Rosiers, F.1    Theriault, M.2
  • 27
    • 0036053391 scopus 로고    scopus 로고
    • "The impact of school characteristics on house prices: Chicago 1987-1991"
    • Downes T A, Zabel J E, 2002, "The impact of school characteristics on house prices: Chicago 1987-1991" Journal of Urban Economics 52 1-25
    • (2002) Journal of Urban Economics , vol.52 , pp. 1-25
    • Downes, T.A.1    Zabel, J.E.2
  • 28
    • 84986076317 scopus 로고    scopus 로고
    • "The long-term impact of flooding on residential property values"
    • Eves C, 2002, "The long-term impact of flooding on residential property values" Property Management 20 214-227
    • (2002) Property Management , vol.20 , pp. 214-227
    • Eves, C.1
  • 30
    • 0028569378 scopus 로고
    • "Planning application as a primary data source: Industrial development in Sheffield 1978-1992"
    • Foley P, Hutchinson J, 1994, "Planning application as a primary data source: industrial development in Sheffield 1978-1992" Area 26 123-132
    • (1994) Area , vol.26 , pp. 123-132
    • Foley, P.1    Hutchinson, J.2
  • 31
    • 0018549948 scopus 로고
    • "Hedonic prices, property values and measuring environmental benefits: A survey of the issues"
    • Freeman A M, 1979, "Hedonic prices, property values and measuring environmental benefits: a survey of the issues" Scandinavian Journal of Economics 81 154-171
    • (1979) Scandinavian Journal of Economics , vol.81 , pp. 154-171
    • Freeman, A.M.1
  • 32
    • 0020383853 scopus 로고
    • "Effects of nuclear power plants on residential property values"
    • Gamble H B, Downing R H, 1982, "Effects of nuclear power plants on residential property values" Journal of Regional Science 22 457-478
    • (1982) Journal of Regional Science , vol.22 , pp. 457-478
    • Gamble, H.B.1    Downing, R.H.2
  • 33
    • 33745119935 scopus 로고    scopus 로고
    • "Hurricanes, housing market activity, and coastal real estate values"
    • Graham E J Jr, Hall W W Jr, 2001, "Hurricanes, housing market activity, and coastal real estate values" The Appraisal Journal 69 379-387
    • (2001) The Appraisal Journal , vol.69 , pp. 379-387
    • Graham Jr., E.J.1    Hall Jr., W.W.2
  • 34
    • 0041894974 scopus 로고
    • "Hedonic prices, price indices, and housing markets"
    • Goodman A C, 1978, "Hedonic prices, price indices, and housing markets" Journal of Urban Economics 5 471-484
    • (1978) Journal of Urban Economics , vol.5 , pp. 471-484
    • Goodman, A.C.1
  • 35
    • 0012219374 scopus 로고    scopus 로고
    • "Andrew Court and the invention of hedonic price analysis"
    • Goodman A C, 1998, "Andrew Court and the invention of hedonic price analysis" Journal of Urban Economics 44 291-298
    • (1998) Journal of Urban Economics , vol.44 , pp. 291-298
    • Goodman, A.C.1
  • 37
    • 0041177726 scopus 로고
    • "Sales prices as a basis for farm land appraisal"
    • Minnesota Agricultural Experiment Station, University of Minnesota, Saint Paul, MN
    • Haas G C, 1922, "Sales prices as a basis for farm land appraisal", technical bulletin 9, Minnesota Agricultural Experiment Station, University of Minnesota, Saint Paul, MN
    • (1922) Technical Bulletin 9
    • Haas, G.C.1
  • 38
    • 0043225082 scopus 로고    scopus 로고
    • "The impacts of Tiananmen Square events on Hong Kong real estate and non-real estate wealth"
    • He LT, Myer F C N, Webb J R, 1998, "The impacts of Tiananmen Square events on Hong Kong real estate and non-real estate wealth" Journal of Real Estate Finance and Economics 17 289-299
    • (1998) Journal of Real Estate Finance and Economics , vol.17 , pp. 289-299
    • He, L.T.1    Myer, F.C.N.2    Webb, J.R.3
  • 40
    • 0025589155 scopus 로고
    • "The effects of floodplain development controls on residential land values"
    • Holway J M, Burby R J, 1990, "The effects of floodplain development controls on residential land values" Land Economics 66 259-271
    • (1990) Land Economics , vol.66 , pp. 259-271
    • Holway, J.M.1    Burby, R.J.2
  • 41
    • 33745118802 scopus 로고
    • Joint Declaration of the Government of the United Kingdom of Great Britain and Northern Ireland and the Government of the People's Republic of China on the Question of Hong Kong
    • Hong Kong Government, (Government Printer, Hong Kong)
    • Hong Kong Government, 1984 Joint Declaration of the Government of the United Kingdom of Great Britain and Northern Ireland and the Government of the People's Republic of China on the Question of Hong Kong (Government Printer, Hong Kong)
    • (1984)
  • 43
    • 0347726632 scopus 로고    scopus 로고
    • "The effects of previous environmental contamination on industrial real estate prices"
    • Jackson T O, 2001a, "The effects of previous environmental contamination on industrial real estate prices" The Appraisal Journal 69 200-210
    • (2001) The Appraisal Journal , vol.69 , pp. 200-210
    • Jackson, T.O.1
  • 44
    • 0347096160 scopus 로고    scopus 로고
    • "The effects of environmental contamination on real estate: A literature review"
    • Jackson T O, 2001b, "The effects of environmental contamination on real estate: a literature review" Journal of Real Estate Literature 9 93-116
    • (2001) Journal of Real Estate Literature , vol.9 , pp. 93-116
    • Jackson, T.O.1
  • 46
    • 0005825945 scopus 로고    scopus 로고
    • "Hong Kong: Political economy aspects of the Hong Kong Port and Airport Development Strategy"
    • Lai L W C, 1998a, "Hong Kong: political economy aspects of the Hong Kong Port and Airport Development Strategy" Ekistics 65 146-159
    • (1998) Ekistics , vol.65 , pp. 146-159
    • Lai, L.W.C.1
  • 48
    • 0005782046 scopus 로고
    • "The rule of two-to-three: The optimal building and construction spending in the PADS age"
    • Lai L W C, Au E W K, 1990, "The rule of two-to-three: the optimal building and construction spending in the PADS age" Asian Journal of Public Administration 12 69-100
    • (1990) Asian Journal of Public Administration , vol.12 , pp. 69-100
    • Lai, L.W.C.1    Au, E.W.K.2
  • 49
    • 85016509133 scopus 로고    scopus 로고
    • "An econometric study of the decisions of a town planning authority: Complementary and substitute uses of industrial activities in Hong Kong"
    • Lai L W C, Ho W K O, 2002, "An econometric study of the decisions of a town planning authority: complementary and substitute uses of industrial activities in Hong Kong" Managerial and Decision Economics 23 127-135
    • (2002) Managerial and Decision Economics , vol.23 , pp. 127-135
    • Lai, L.W.C.1    Ho, W.K.O.2
  • 50
    • 85021314763 scopus 로고    scopus 로고
    • "A time-series intervention analysis of the effects of external shocks on property prices: A Hong Kong case study"
    • Dublin, 15-18 June; available from authors
    • Lai L W C, Chau K W, Lin V Y Y, 2005a, "A time-series intervention analysis of the effects of external shocks on property prices: a Hong Kong case study", proceedings of the 12th Annual European Real Estate Society Conference, Dublin, 15-18 June; available from authors
    • (2005) Proceedings of the 12th Annual European Real Estate Society Conference
    • Lai, L.W.C.1    Chau, K.W.2    Lin, V.Y.Y.3
  • 51
    • 33745135898 scopus 로고    scopus 로고
    • "An initial environmental-epidemiological analysis of the spread of SARS at a high-rise housing estate in Hong Kong"
    • Eds Y K Cheung, K W Chau (World Scientific Press, Singapore)
    • Lai L W C, Chau K W, Ho D C W, Lam G, Lin V Y Y, 2005b, "An initial environmental-epidemiological analysis of the spread of SARS at a high-rise housing estate in Hong Kong", in Tall Buildings: From Engineering to Sustainability Eds Y K Cheung, K W Chau (World Scientific Press, Singapore) pp 872-880
    • (2005) Tall Buildings: From Engineering to Sustainability , pp. 872-880
    • Lai, L.W.C.1    Chau, K.W.2    Ho, D.C.W.3    Lam, G.4    Lin, V.Y.Y.5
  • 52
    • 33745182054 scopus 로고    scopus 로고
    • "Impact of political incidents, financial crises, and severe acute respiratory syndrome (SARS) on Hong Kong development regulators and developers"
    • forthcoming
    • Lai L W C, Chau K W, Ho D C W, Lin V Y Y, 2006, "Impact of political incidents, financial crises, and severe acute respiratory syndrome (SARS) on Hong Kong development regulators and developers" Environment and Planning B: Planning and Design forthcoming
    • (2006) Environment and Planning B: Planning and Design
    • Lai, L.W.C.1    Chau, K.W.2    Ho, D.C.W.3    Lin, V.Y.Y.4
  • 55
    • 85021339562 scopus 로고    scopus 로고
    • "An economic analysis of the pre- and post-1997 Hong Kong"
    • Department of Economics and Finance and APEC Study Centre, Faculty of Business, City University of Hong Kong, Hong Kong
    • Li K W, 2000, "An economic analysis of the pre- and post-1997 Hong Kong", Department of Economics and Finance and APEC Study Centre, Faculty of Business, City University of Hong Kong, Hong Kong, http://fbweb.cityu.edu.hk/hkapec/Papers/Jan2000.pdf
    • (2000)
    • Li, K.W.1
  • 56
    • 0019145266 scopus 로고
    • "Micro-neighbourhood externalities and hedonic housing prices"
    • Li M H, Brown J, 1980, "Micro-neighbourhood externalities and hedonic housing prices" Land Economics 56 124-141
    • (1980) Land Economics , vol.56 , pp. 124-141
    • Li, M.H.1    Brown, J.2
  • 58
    • 0041965030 scopus 로고    scopus 로고
    • "Economic impact assessment: Guidelines for conducting and interpreting assessment studies"
    • Economics, Department, University of North Carolina at Greensboro, Greensboro, NC
    • Link A N, 1996, "Economic impact assessment: guidelines for conducting and interpreting assessment studies", Economics, Department, University of North Carolina at Greensboro, Greensboro, NC, http://www.nist.gov/director/prog-ofc/rept-961.htm
    • (1996)
    • Link, A.N.1
  • 59
    • 85021381046 scopus 로고    scopus 로고
    • "Will SARS result in a financial crisis? Differentiating real, transient, and permanent economic effects of a health crisis"
    • Department of Real Estate and Construction, University of Hong Kong, Pokfulam Road, Hong Kong
    • Lorne F T, 2003, "Will SARS result in a financial crisis? Differentiating real, transient, and permanent economic effects of a health crisis", Department of Real Estate and Construction, University of Hong Kong, Pokfulam Road, Hong Kong
    • (2003)
    • Lorne, F.T.1
  • 60
    • 0037407014 scopus 로고    scopus 로고
    • "The stock return effect of political risk event on foreign joint ventures: Evidence from the Tiananmen Square incident"
    • Ma Y, Sun H L, Tang A P, 2003, "The stock return effect of political risk event on foreign joint ventures: evidence from the Tiananmen Square incident" Global Finance Journal 14 49-64
    • (2003) Global Finance Journal , vol.14 , pp. 49-64
    • Ma, Y.1    Sun, H.L.2    Tang, A.P.3
  • 62
    • 84983991345 scopus 로고
    • "The impact of natural hazards on housing values: The Loma Prieta earthquake"
    • Murdoch J C, Singh H, Thayer M, 1993, "The impact of natural hazards on housing values: the Loma Prieta earthquake" Real Estate Economics 21 167-184
    • (1993) Real Estate Economics , vol.21 , pp. 167-184
    • Murdoch, J.C.1    Singh, H.2    Thayer, M.3
  • 63
    • 0019663171 scopus 로고
    • "Three Mile Island and residential property values: Empirical analysis and policy implications"
    • Nelson J P, 1981, "Three Mile Island and residential property values: empirical analysis and policy implications" Land Economics 57 363-372
    • (1981) Land Economics , vol.57 , pp. 363-372
    • Nelson, J.P.1
  • 65
    • 85021359309 scopus 로고    scopus 로고
    • Pittsburg State University Economic Impact Assessment Task Force
    • Pittsburg State University Economic Impact Assessment Task Force, 2002 Pittsburg State University Economic Impact Statement http://www.pittstate.edu/pres/Report652.pdf
    • (2002) Pittsburg State University Economic Impact Statement
  • 67
    • 0033425759 scopus 로고    scopus 로고
    • "Capturing downside risk in financial markets: The case of the Asian crisis"
    • Pownall R A J, Koedijk K G, 1999, "Capturing downside risk in financial markets: the case of the Asian crisis" Journal of Internal Money and Finance 18 853-870
    • (1999) Journal of Internal Money and Finance , vol.18 , pp. 853-870
    • Pownall, R.A.J.1    Koedijk, K.G.2
  • 68
    • 33745140981 scopus 로고    scopus 로고
    • "Impact of a toxic waste superfund site on property values"
    • Reichert A K, 1997, "Impact of a toxic waste superfund site on property values" The Appraisal Journal 65 381-392
    • (1997) The Appraisal Journal , vol.65 , pp. 381-392
    • Reichert, A.K.1
  • 69
    • 0009565629 scopus 로고    scopus 로고
    • "The persistence of contamination effects: A superfund site revisited"
    • Reichert A K, 1999, "The persistence of contamination effects: a superfund site revisited" The Appraisal Journal 67 126-135
    • (1999) The Appraisal Journal , vol.67 , pp. 126-135
    • Reichert, A.K.1
  • 70
    • 0000438884 scopus 로고
    • "The determinants of residential property values with special reference to air pollution"
    • Ridker R G, Henning J A, 1967, "The determinants of residential property values with special reference to air pollution" Review of Economics and Statistics 49 246-257
    • (1967) Review of Economics and Statistics , vol.49 , pp. 246-257
    • Ridker, R.G.1    Henning, J.A.2
  • 71
    • 0001791734 scopus 로고
    • "Hedonic prices and implicit markets: Product differentiation in pure competition"
    • Rosen S, 1974, "Hedonic prices and implicit markets: product differentiation in pure competition" Journal of Political Economy 82 34-55
    • (1974) Journal of Political Economy , vol.82 , pp. 34-55
    • Rosen, S.1
  • 73
    • 0043181970 scopus 로고    scopus 로고
    • "Pegged exchange rate system in Macau and Hong Kong"
    • Scott R H, 1997, "Pegged exchange rate system in Macau and Hong Kong" Multinational Financial Journal 1 153-168
    • (1997) Multinational Financial Journal , vol.1 , pp. 153-168
    • Scott, R.H.1
  • 74
    • 0001462418 scopus 로고
    • "Empirical modelling of the relative impacts of various sizes of shopping centres on the values of surrounding residential properties"
    • Sirpal R, 1994, "Empirical modelling of the relative impacts of various sizes of shopping centres on the values of surrounding residential properties" Journal of Real Estate Research 9 487-505
    • (1994) Journal of Real Estate Research , vol.9 , pp. 487-505
    • Sirpal, R.1
  • 76
    • 0040212016 scopus 로고
    • "The effect of ocean and lake coast amenities on cities"
    • Smith B H, 1993, "The effect of ocean and lake coast amenities on cities" Journal of Urban Economics 33 115-123
    • (1993) Journal of Urban Economics , vol.33 , pp. 115-123
    • Smith, B.H.1
  • 79
    • 3943091157 scopus 로고    scopus 로고
    • "Planes, trains and automobiles: Impact of traffic noise on house prices"
    • Theebe M A J, 2004, "Planes, trains and automobiles: impact of traffic noise on house prices" Journal of Real Estate Finance and Economics 28 209-234
    • (2004) Journal of Real Estate Finance and Economics , vol.28 , pp. 209-234
    • Theebe, M.A.J.1
  • 81
  • 83
    • 0036078535 scopus 로고    scopus 로고
    • "Estimating neighbourhood effects in house prices: Towards a new hedonic model approach"
    • Tse R Y C, 2002, "Estimating neighbourhood effects in house prices: towards a new hedonic model approach" Urban Studies 39 1165-1180
    • (2002) Urban Studies , vol.39 , pp. 1165-1180
    • Tse, R.Y.C.1
  • 85
    • 1842484891 scopus 로고    scopus 로고
    • "The impact of the Asian financial crisis on the pricing of condominiums in Malaysia"
    • Tung L C, Chau K W, Ng F F, 2004, "The impact of the Asian financial crisis on the pricing of condominiums in Malaysia" Journal of Real Estate Literature 12 33-49
    • (2004) Journal of Real Estate Literature , vol.12 , pp. 33-49
    • Tung, L.C.1    Chau, K.W.2    Ng, F.F.3
  • 87
    • 15044339254 scopus 로고    scopus 로고
    • Hedonic estimates of regional constant quality house prices"
    • Wolverton M, Senteza J, 2000, Hedonic estimates of regional constant quality house prices" Journal of Real Estate Research 19 235-253
    • (2000) Journal of Real Estate Research , vol.19 , pp. 235-253
    • Wolverton, M.1    Senteza, J.2


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.