Urban house prices and investments in small and medium-sized industrial firms: Evidence from provinces of Iran

Hassan Gholipour Fereidouni

Urban Studies, 2020, vol. 57, issue 16, 3347-3362

Abstract: Using data from provinces of Iran from 2005 to 2016 and applying panel cointegrating regressions, I find that increases in real house prices have a negative and statistically significant effect on investments in small and medium-sized industrial firms. There are at least three possible mechanisms through which increases in house prices adversely affect industrial entrepreneurship. They (1) generate housing construction investment opportunities with high returns, (2) attract many urban adults with tertiary education to the real estate brokerage industry, and (3) encourage people to save more to buy houses (which is one of the prerequisites for marriage in Iran).

Keywords: house prices; industrial firms; Iran; SMEs; urban adults; 房价; å®žä¸šä¼ ä¸š; 伊朗; ä¸­å° ä¼ ä¸š; åŸŽå¸‚æˆ å¹´äºº (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:sae:urbstu:v:57:y:2020:i:16:p:3347-3362

DOI: 10.1177/0042098019897887

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