nep-tra New Economics Papers
on Transition Economics
Issue of 2005‒05‒29
two papers chosen by
Tono Sanchez
Universitat de Valencia

  1. The Construction and Related Industries in a Changing Socio-Economic Environment: The case of Hong Kong„X By Charles Ka Yui Leung; Kelvin S. Wong
  2. Households' Demand for Higher Environmental Quality: The Case of Russia By Blam Inna

  1. By: Charles Ka Yui Leung (Dept of Economics, Chinese University of Hong Kong, Hong Kong); Kelvin S. Wong (Dept of Real Estate and Construction, University of Hong Kong, Hong Kong)
    Abstract: Hong Kong is well known for its "housing market bubble". Both theoretical and empirical studies point to the supply side being the "root of all evil". This paper takes a preliminary step in understanding the supply side of the Hong Kong market by investigating the construction and related industries. After taking into consideration of the unusual public expenditure, the construction industry seems to be "normal" in international standard. Its relationship with the aggregate economy is also examined. Directions for future research are also suggested.
    Keywords: housing, construction, government policy, employment, investment
    JEL: E0 E3 R0
    Date: 2004–10
  2. By: Blam Inna
    Abstract: This paper employs the Russia Longitudinal Monitoring Survey (RLMS) to examine changes in Russian households' averting behavior against air and drinking water pollution and their willingness to pay additional money to the federal or local government for cleaner environment over the period 1994–1998. The empirical analysis demonstrates that the households income and the local environmental pollution do influence the respondent's decision on both averting behavior and his or her willingness to pay for cleaner air and drinking water. Also, the individual's life expectancy, living conditions, and knowledge about the negative impact of polluted environment (higher or serious illness thought to be caused by pollution in the respondent's family) are found to be significant determinants of the probability of the willingness to pay for environmental goods.
    Keywords: Russia, willingness to pay for better higher environmental quality, averting behavior
    JEL: D12 Q53
    Date: 2005–05–26

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