期刊名称：American Journal of Industrial and Business Management
印刷版ISSN：2164-5167
电子版ISSN：2164-5175
出版年度：2019
卷号：9
期号：5
页码：1201-1218
DOI：10.4236/ajibm.2019.95081
出版社：Scientific Research Publishing
摘要：Research on the relationship between real estate investment and economic growth has a long history in the economic development literature. This study adds to the literature by focusing on the largest segment of commercial real estate, retail establishments. Not only quantifying the economic impacts of retail establishments, but also understanding how the economic and socio-demographic characteristics of an area affect investment location decisions, contributes to the understanding of regional growth process. A 3SLS simultaneous equations model derived from is used to analyze the role of “small” and “large” retail establishments in the economic development of the Northeast region of the United States. The study concludes that growth in retail establishments indeed plays a significant role in the economic growth process in the study region. Counties’ government expenditure and housing values play a strong role in attracting retail businesses. Population density has different effects on “small” and “large” retail establishments; high population density areas are found to be attractive, particularly to “small” retail establishments, whereas “large establishments” prefer areas with low population densities.
关键词：Retail Establishments;Economic Growth;Simultaneous Model
