MARKET,INSTITUTION AND THE LOCATION CHOICE OF FOREIGN REAL ESTATE ENTERPRISE IN CHINA
研究了1997-2005年中国省级面板数据，发现制度变革和市场需求是吸引外资房地产投资的关键因素，土地和住房市场化程度高的省份更易吸引外资。
The agglomeration of foreign real estate investment is very significant in China,especially in the eastern coastal provinces.This paper is to investigate the forces that determine the spatial distribution of it.Beyond the existing literature,this study highlights the importance of institution reform,market demand in attracting foreign investment to real estate industries.Using a panel dataset of real estate industries in China during the period 1997-2005,this study found that institution reform,market demand are important in attracting foreign real estate investment.Provinces with higher degree of land and housing marketing are easier in attracting foreign real estate investment.Investors also favor provinces with higher market demand and housing prices.The agglomeration of FDI investment is also favorable for foreign real estate investment.