Open AccessHOW DOES THE G20 SUMMIT AFFECT LAND MARKET? EVIDENCE FROM CHINA
Author(s) -
Xiaolong Du,
Zhonghua Huang
Publication year - 2021
Publication title -
international journal of strategic property management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.43
H-Index - 30
eISSN - 1648-9179
pISSN - 1648-715X
DOI - 10.3846/ijspm.2021.15470
Subject(s) - summit , capitalization , china , business , database transaction , land use , economics , natural resource economics , geography , philosophy , linguistics , civil engineering , archaeology , physical geography , computer science , engineering , programming language
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.