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

Lizieri, C. and Pain, K. ORCID: https://orcid.org/0000-0003-1451-9252 (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 doi: 10.1080/00343404.2012.753434 (special Issue: Finance, business property and urban and regional development)

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
URI	https://reading-clone.eprints-hosting.org/id/eprint/31040
Item Type	Article
Refereed	Yes
Divisions	Henley Business School > Real Estate and Planning
Publisher	Routledge
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