IDEAS home Printed from https://ideas.repec.org/a/ris/invreg/0319.html
   My bibliography  Save this article

Local Political Power and Housing Bubble in Spain

Author

Listed:
  • Esteban, Marisol

    (University of the Basque Country (UPV/EHU))

  • Altuzarra, Amaia

    () (University of the Basque Country (UPV/EHU))

Abstract

This paper provides empirical evidence of the role of local politicians in the development of the housing bubble in Spain. It intends to determine empirically whether different political ideologies matter and whether municipalities run by different political parties show housing bubbles of different intensity. We work with all municipalities over 25,000 inhabitants. We measure political ideology according to the political party to which the mayor of a municipality belongs. The housing bubble is proxied by the stock of unsold new dwellings. The results suggest an association between the local political ideology and existing unsold new dwellings. Municipalities governed by right-wing mayors have a higher number and share of unsold new dwellings than those governed by centre-left and left-wing mayors.

Suggested Citation

  • Esteban, Marisol & Altuzarra, Amaia, 2016. "Local Political Power and Housing Bubble in Spain," INVESTIGACIONES REGIONALES - Journal of REGIONAL RESEARCH, Asociación Española de Ciencia Regional, issue 35, pages 107-127.
  • Handle: RePEc:ris:invreg:0319
    as

    Download full text from publisher

    File URL: http://www.aecr.org/images/ImatgesArticles/2016/11/5_esteban.pdf
    File Function: Full text
    Download Restriction: no

    More about this item

    Keywords

    empty dwellings; housing bubble; local power;

    JEL classification:

    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ris:invreg:0319. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Julieta Llungo-Ortíz). General contact details of provider: http://edirc.repec.org/data/aecrrea.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.