000110600 001__ 110600
000110600 005__ 20240319080956.0
000110600 0247_ $$2doi$$a10.1108/AEA-11-2020-0159
000110600 0248_ $$2sideral$$a127329
000110600 037__ $$aART-2022-127329
000110600 041__ $$aeng
000110600 100__ $$aKoumpias A. M.
000110600 245__ $$aHousing bubbles and land planning corruption: evidence from Spain’s largest municipalities
000110600 260__ $$c2022
000110600 5060_ $$aAccess copy available to the general public$$fUnrestricted
000110600 5203_ $$aPurpose: The purpose of this paper is to quantify to what extent the housing bubble in the early-to-mid 2000s in Spain exacerbated land planning corruption among Spain’s largest municipalities. Design/methodology/approach: The authors exploit plausibly exogenous variation in housing prices induced by changes in local mortgage market conditions; namely, the rapid expansion of savings banks (Cajas de Ahorros). Accounting for electoral competition in the 2003–2007 and 2007–2009 electoral cycles among Spanish municipalities larger than 25, 000 inhabitants, the authors estimate a positive relationship between housing prices and land planning corruption in municipalities with variation in savings bank establishments using instrumental variables techniques. Findings: A 1% increase in housing prices leads to a 3.9% points increase in the probability of land planning corruption. Moreover, absolute majority governments (not needing other parties’ support) are more susceptible to the incidence of corruption than non-majority ones. Two policy implications to address corruption emerge: enhance electoral competition and increase scrutiny over land planning decisions in sparsely populated. Originality/value: First empirical evidence of a formal link between the 2000s housing bubble in Spain and land planning corruption.
000110600 540__ $$9info:eu-repo/semantics/openAccess$$aby$$uhttp://creativecommons.org/licenses/by/3.0/es/
000110600 590__ $$a2.3$$b2022
000110600 592__ $$a0.535$$b2022
000110600 591__ $$aECONOMICS$$b169 / 380 = 0.445$$c2022$$dQ2$$eT2
000110600 593__ $$aEconomics, Econometrics and Finance (miscellaneous)$$c2022$$dQ1
000110600 594__ $$a2.7$$b2022
000110600 655_4 $$ainfo:eu-repo/semantics/article$$vinfo:eu-repo/semantics/publishedVersion
000110600 700__ $$aMartínez-Vázquez J.
000110600 700__ $$0(orcid)0000-0002-8555-973X$$aSanz-Arcega E.$$uUniversidad de Zaragoza
000110600 7102_ $$14014$$2225$$aUniversidad de Zaragoza$$bDpto. Economía Aplicada$$cÁrea Economía Aplicada
000110600 773__ $$g30, 89 (2022), 132-150$$pAppl. econ. anal.$$tApplied Economic Analysis$$x2632-7627
000110600 8564_ $$s436037$$uhttps://zaguan.unizar.es/record/110600/files/texto_completo.pdf$$yVersión publicada
000110600 8564_ $$s1976896$$uhttps://zaguan.unizar.es/record/110600/files/texto_completo.jpg?subformat=icon$$xicon$$yVersión publicada
000110600 909CO $$ooai:zaguan.unizar.es:110600$$particulos$$pdriver
000110600 951__ $$a2024-03-18-13:40:55
000110600 980__ $$aARTICLE