Escaping Air Pollution: Immigrants, Students, and Spillover Effects on Property Prices Abroad

Simple item page
dc.contributor.authorChang Y-Y
dc.contributor.authorDasgupta S
dc.date.available2/11/2022
dc.date.issued2/11/2022
dc.descriptionCAUL read and publish agreement 2022
dc.description.abstractWe construct a time series of news coverage about air pollution in China for the period 1977-2019. Our measure of abnormal news coverage (ANC) of China's air pollution is uncorrelated with growth in economic activity or cyclical components of such activity, but strongly correlated with weather-related and atmospheric conditions known to cause air pollution. ANC is associated with more capital flight from China. Focusing on the USA as a destination country, we find that ANC is associated with more Chinese citizens emigrating to US regions with stronger ethnic links to China, and more international students enrolling in US institutions with stronger Chinese student links. US regions with stronger ethnic or educational ties to China experience higher property price growth when ANC is higher. Our study suggests that perception of local environmental risk can have major consequences for the cross-border reallocation of capital and labor. © 2022 The Author(s). Published by Oxford University Press on behalf of the European Finance Association. All rights reserved. For permissions, please email: journals.permissions@oup.com.
dc.description.confidentialFALSE
dc.identifier.citationReview of Finance, 2022
dc.identifier.doi10.1093/rof/rfac070
dc.identifier.elements-id457793
dc.identifier.harvestedMassey_Dark
dc.identifier.issn1382-6662
dc.identifier.urihttps://hdl.handle.net/10179/17815
dc.publisherOxford University Press
dc.relation.isPartOfReview of Finance
dc.relation.urihttps://doi.org/10.1093/rof/rfac070
dc.subject.anzsrc1501 Accounting, Auditing and Accountability
dc.subject.anzsrc1502 Banking, Finance and Investment
dc.titleEscaping Air Pollution: Immigrants, Students, and Spillover Effects on Property Prices Abroad
dc.typeJournal article
pubs.notesNot known
pubs.organisational-group/Massey University
pubs.organisational-group/Massey University/Massey Business School
pubs.organisational-group/Massey University/Massey Business School/School of Economics and Finance
Files
Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
rfac070 - downloaded from RoF on 8Nov2022.pdf
Size:
1.28 MB
Format:
Adobe Portable Document Format
Description:
Download
Collections
Journal Articles