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Fly-by-night builders in Harbin and Shanghai
Author(s)
Date Issued
2009
Journal
ISSN
0265-0665
Citation
Economic Affairs, 2009, vol. 29(4), pp. 66-71.
Type
Peer Reviewed Journal Article
Abstract
This paper examines residential property development in the Chinese cities of Harbin and Shanghai in 2001–07. It reveals that development firms generally only built one residential development during the study period, which contrasts with the situation in most developed countries, where large, established firms engage in numerous projects. This finding appears to contradict theories on economies of scale, brand names and reputation. It is argued that institutional failure may be largely responsible for the business practices observed.
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