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Land and real estate price sensitivity to a disaster: Evidence from the 2011 Thai floods

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posted on 2018-05-01, 15:31 authored by Yasuyuki Sawada, Hiroyuki Nakata, Kunio Sekiguchi, Yoko Okuyama
This paper investigates the impacts of a natural disaster on land and real estate prices. Using unique land and real estate price panel datasets for multiple periods, one group before and the other after the 2011 floods in Thailand, we find that the floods adversely affected land prices for industrial use. However, the prices of commercial and residential land did not decline despite substantial damages from the floods, suggesting a relative lack of liquidity or other frictions in the land and real estate markets in Thailand.

Funding

This study is conducted as part of the project "Post-disaster Recovery Policies and Insurance Mechanisms against Disasters: Case Studies on Earthquakes in Japan and Floods in Thailand," undertaken at Research Institute of Economy, Trade and Industry (RIETI).

History

Citation

Economics Bulletin, 2018, 38 (1), pp. 89-97

Author affiliation

/Organisation/COLLEGE OF SOCIAL SCIENCES, ARTS AND HUMANITIES/School of Business

Version

  • VoR (Version of Record)

Published in

Economics Bulletin

Publisher

Economics Bulletin

eissn

1545-2921

Copyright date

2018

Available date

2018-05-01

Publisher version

https://EconPapers.repec.org/RePEc:ebl:ecbull:eb-18-00022

Language

en

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