Browsing by Subject "Real estate business"
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Item Dubai, debt, and dependency : the political and economic implications of the bailout of Dubai(2011-05) Frasca, Alexandra Marguerite; Henry, Clement M., 1937-; Leeds, SandyThe goal of this thesis is to identify the main political and economic implications of Dubai’s debt crisis and subsequent bailout by her wealthier and more powerful sister emirate Abu Dhabi. This paper examines the implications of the bailout of Dubai on two levels: Dubai’s relationship with Abu Dhabi and Dubai’s relationship with the international investment community. The paper first provides a brief background on Dubai, one of the seven emirates that make up the United Arab Emirates (UAE), and discusses Dubai’s key characteristics that helped give Dubai her nickname Dubai Inc. – an opportune location, the Al-Maktoum ruling family, and state-led entrepreneurship. It then discusses Dubai’s historically competitive relationship with Abu Dhabi and Dubai’s push to diversify economically away from oil. The paper outlines two key economic developments – the rise of Dubai’s real estate and tourism sectors and the creation of Dubai’s government-related enterprises (GREs), which helped finance the real estate bubble. This thesis suggests that Abu Dhabi now holds unquestionable power over Dubai and can control Dubai’s GREs and their subsidiaries such as Dubai World. This paper also argues that the international investment community will demand increased transparency and higher standards of corporate governance of Dubai’s businesses in light of the entrenched poor practices that the bailout exposed within the tiny-city state's GREs and companies.Item The effects of local taxes on economic behavior in the housing market(Texas Tech University, 1994-05) Bryant, Jeffrey JackThe concept of government federalism in the United States places the responsibility for providing many goods and services upon local governmental entities. The manner in which local governments produce these services and obtain revenue to pay for them may have a dramatic impact on the citizenry and on the government unit itself. In particular, economic theory suggests that the type of resident attracted to a particular jurisdiction and the economic well being of existing residents may depend upon these factors. This research investigates the extent to which local taxes affect residential choice and residential house value. A review of Tiebout hypothesis and tax capitalization literature is presented in Chapter II. A theoretical foundation for the specific hypotheses tested is developed in Chapter III. Tiebout's theory and capitalization theory are explained separately and then the nature of their interrelationship is proffered. Chapter IV contains a more detailed description of the research design and the statistical methods used in making inferences about the hypotheses. Finally, results from the empirical tests of hypotheses are interpreted in Chapter V.