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The Economy of Dubai$
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Abdulrazak Al Faris and Raimundo Soto

Print publication date: 2016

Print ISBN-13: 9780198758389

Published to Oxford Scholarship Online: March 2016

DOI: 10.1093/acprof:oso/9780198758389.001.0001

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Access to Land and the Investment Behaviour of Firms

Access to Land and the Investment Behaviour of Firms

(p.291) 13 Access to Land and the Investment Behaviour of Firms
The Economy of Dubai

Ibrahim Elbadawi

Oxford University Press

Despite abundance of land and substantial development of the real estate sector, preliminary evidence from a 2010 firms’ survey conducted by the Dubai Economic Council suggests that access to land was a major impediment to firms’ operations in Dubai. This chapter assesses this evidence by formally modelling the probability of this phenomenon and finds that, overall, problems of land access appear to be more severe for firms located in the free zones; however, Main Dubai firms that are ‘effectively’ owned by foreigners tend to face the most extreme constraints, compared to all other firms in both economic zones. Moreover, the chapter also finds that problems of land access have negative implications for industrial development, among other things because they discourage firms’ investment in fiscal capital and training of employees.

Keywords:   commercial land, access to land, investment, human capital, free zone, firms’ survey, Dubai

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