Drought and property Prices: Empirical Evidence from Iran

This study demonstrates an economic consequence of climate change and water crises in Iran. It examines the effect of drought on housing prices, residential land prices, and housing rents in Iran. Using data from provinces of Iran from 1993 to 2015 and applying static and dynamic panel fixed effects...

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Veröffentlicht in:MAGKS - Joint Discussion Paper Series in Economics (Band 16-2019)
Autoren: Farzanegan, Mohammad Reza, Feizi, Mehdi, Fereidouni, Gholipour
Format: Artikel
Sprache:Englisch
Veröffentlicht: Philipps-Universität Marburg 2019
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Zusammenfassung:This study demonstrates an economic consequence of climate change and water crises in Iran. It examines the effect of drought on housing prices, residential land prices, and housing rents in Iran. Using data from provinces of Iran from 1993 to 2015 and applying static and dynamic panel fixed effects estimators, we find evidence that an increase in the balance of water (reducing the severity of drought) within provinces has a positive effect on property prices. Our results have important implications for Iranian policymakers and property investors.
Umfang:34 Seiten
ISSN:1867-3678
DOI:10.17192/es2024.0611