Advanced Search
DSpace@MIT

The determinants of foreign direct investment in U.S. real estate : an empirical analysis

Research and Teaching Output of the MIT Community

Show simple item record

dc.contributor.advisor William C. Wheaton. en_US
dc.contributor.author Liang, Min, S.M. Massachusetts Institute of Technology en_US
dc.contributor.author Yoon, Sunghoon en_US
dc.contributor.other Massachusetts Institute of Technology. Center for Real Estate. Program in Real Estate Development. en_US
dc.coverage.spatial n-us--- en_US
dc.date.accessioned 2012-01-11T20:17:36Z
dc.date.available 2012-01-11T20:17:36Z
dc.date.issued 2011 en_US
dc.identifier.uri http://hdl.handle.net/1721.1/68183
dc.description Thesis (S.M. in Real Estate Development)--Massachusetts Institute of Technology, Program in Real Estate Development in Conjunction with the Center for Real Estate, 2011. en_US
dc.description This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections. en_US
dc.description "September 2011." Cataloged from student-submitted PDF version of thesis. en_US
dc.description Includes bibliographical references (p. 51-52). en_US
dc.description.abstract This thesis provides an empirical analysis of the determinants of foreign direct investment in commercial real estate (FDIRE) in the U.S. We examine the major factors that affect levels of FDIRE in the U.S. and foreign investors' location preferences. First, using panel data from 2002 to 2006, this research develops a model to test the importance of GDP, GDP growth, national investment level, exchange rate, and interest rate in determining levels of FDIRE in the U.S. from major developed countries. Results of the study suggest that economic growth of a country unexpectedly encourages domestic investment rather than foreign investment, and depreciation of currency value of the host country attracts more FDIRE. Second, the study analyzes the spatial distribution of FDIRE at the state level for the time period 1999 to 2007. A set of location determinants is selected to explain the pattern of FDIRE. These determinants include size of population, personal income, commercial real estate vacancy rate, commercial real estate completion rate, population growth, and personal income growth. Results of the study suggest that foreign investors prefer larger and wealthier states for direct commercial real estate investment. There is also evidence showing that foreign investors begin to diversify toward less populous and less wealthy states. en_US
dc.description.statementofresponsibility by Min Liang and Sunghoon Yoon. en_US
dc.format.extent 52 p. en_US
dc.language.iso eng en_US
dc.publisher Massachusetts Institute of Technology en_US
dc.rights M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission. en_US
dc.rights.uri http://dspace.mit.edu/handle/1721.1/7582 en_US
dc.subject Center for Real Estate. Program in Real Estate Development. en_US
dc.title The determinants of foreign direct investment in U.S. real estate : an empirical analysis en_US
dc.type Thesis en_US
dc.description.degree S.M.in Real Estate Development en_US
dc.contributor.department Massachusetts Institute of Technology. Center for Real Estate. Program in Real Estate Development. en_US
dc.identifier.oclc 770682376 en_US


Files in this item

Name Size Format Description
770682376.pdf 1.737Mb PDF Preview, non-printable (open to all)
770682376-MIT.pdf 1.550Mb PDF Full printable version (MIT only)

This item appears in the following Collection(s)

Show simple item record

MIT-Mirage