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Skyscrapers and the economy in Latin America

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  • Nestor Garza
  • Colin Lizieri

Abstract

Skyscrapers are an intellectual challenge for urban analysis because of their imposing visual presence in the city landscape, and because of their environmental and real estate impacts. These characteristics however have not received much attention in the literature, particularly in analyses about Latin American cities. In this paper, we describe and test four theories about record-breaking buildings height: traditional microeconomic theory, game theory, business cycle, and global cities. We use a 2000–2012 panel database of 29 cities from 10 different Latin American countries, in order to contrast the contesting explanations about buildings’ height. We design a baseline model and then, using four different estimation techniques and diverse specifications, find that traditional theory and more strongly, global cities are good predictors of buildings’ height.

Suggested Citation

  • Nestor Garza & Colin Lizieri, 2016. "Skyscrapers and the economy in Latin America," Journal of Property Research, Taylor & Francis Journals, vol. 33(4), pages 269-292, October.
  • Handle: RePEc:taf:jpropr:v:33:y:2016:i:4:p:269-292
    DOI: 10.1080/09599916.2016.1224914
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    References listed on IDEAS

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    1. Cheshire, Paul & Dericks, Gerard, 2014. "'Iconic design' as deadweight loss: rent acquisition by design in the constrained London office market," LSE Research Online Documents on Economics 58457, London School of Economics and Political Science, LSE Library.
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    Cited by:

    1. Jason Barr & Jennifer Johnson, 2020. "Skyscrapers and the Happiness of Cities," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 46(2), pages 344-377, April.
    2. Ilir Nase & Nick van Assendelft & Hilde Remøy, 2019. "Rent Premiums and Vertical Sorting in Amsterdam’s Multi-Tenant Office Buildings," The Journal of Real Estate Finance and Economics, Springer, vol. 59(3), pages 419-460, October.

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