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Citation Information

Type Journal Article - Italian Sociological Review
Title Impact of Remittance Income on House Prices: Evidence from Bangladesh.
Volume 19
Issue 1
Publication (Day/Month/Year) 2016
URL http://www.umac.mo/fba/irer/papers/forthcoming/IR141134(MS_140404) Real Estate Cycles as Markov​(Mishra).pdf
During the past three decades, the Bangladesh economy has been
characterized by higher economic growth, and record levels of
remittance income from both foreign and domestic sources. By using
household data, and ordinary least squares (OLS) and quantile
regressions, this study explores the factors that affect house prices in
Bangladesh. Particular attention is given to the role of domestic and
foreign remittance incomes. The results reveal that both domestic and
foreign remittance incomes have positive and significant effects on
housing prices in Bangladesh. The results from this study indicate that
house prices and estimated prices of housing attributes may reflect the
fact that housing attributes are not priced the same across a given
distribution of house prices. Furthermore, the quantile regression
shows that unlike the single OLS estimate, parameter estimates differ
along the distribution of house prices per square feet.

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