RENTAL PRICE CONVERGENCE IN A DEVELOPING ECONOMY: NEW EVIDENCE FROM NONLINEAR PANEL UNIT ROOT TEST

被引：7

作者：

Bilgin, Mehmet Huseyin ^{[1
]}

Lau, Chi Keung Marco ^{[2
]}

Demir, Ender ^{[3
]}

Astrauskiene, Nijole ^{[4
]}

机构：

[1] Kadir Has Univ, TR-34083 Istanbul, Turkey

[2] Zirve Univ, TR-27260 Gaziantep, Turkey

[3] Univ CaFoscari Venezia, I-30121 Venice, Italy

[4] Vilnius Gediminas Tech Univ, LT-10223 Vilnius, Lithuania

来源：

INTERNATIONAL JOURNAL OF STRATEGIC PROPERTY MANAGEMENT | 2010年 / 14卷 / 03期

关键词：

Turkey; Housing industry; Major cities of Turkey; Panel unit root test; Rental price movement; REGIONAL HOUSE PRICES; REAL EXCHANGE-RATES; UK; BEHAVIOR;

D O I：

10.3846/ijspm.2010.18

中图分类号：

C93 [管理学];

学科分类号：

12 ; 1201 ; 1202 ; 120202 ;

摘要：

We examine the hypothesis of nonlinear rental price convergence using relative rental price index of three major cities of Turkey namely, Istanbul, Izmir, and Ankara span from the period from January 1994 to February 2010. Our results indicate that all cities exhibit rental price convergence towards its national mean level for the period of January 1994 to December 2004. In contrast, none of the cities show evidence of convergence from January 2005 to February 2010. The evidence clearly shows rental price divergence in Turkish property market.

引用

页码：245 / 257

页数：13

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