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英文文献：Transparency And Foreign Investment In The Property Markets Of Africa: Reflections On The 2012 Jones Lang Lasalle Index-非洲房地产市场的透明度与外国投资:对2012年仲量联行指数的反思
英文文献作者：Olusegun Adebayo Ogunba
英文文献摘要：
PURPOSE: The paper examined the nature of Africa’s property markets rating as opaque in Jones Lang LaSalle’s (2002) classification, with a view to enhancing transparency on the Continent and thereby attracting more foreign investment.DESIGN/METHODOLOGY/APPROACH: The paper is a theoretical paper, using paper reviews with reasoned analysis to reach conclusions and articulate the way forward. First, the paper established a link between property market transparency in regions of the world and FDI and demonstrated that opacity is the reason that FDI in Africa is very low (only 1 per cent of global investment). Next, Nigeria was provided as a case study of a Sub-Saharan African country that is rated opaque by the JLL in order to better understand the nature and causes of the continents opacity problems and to serve as a springboard for suggestions on improving transparency on the Continent. Transparency issues in the case study were investigated using the JLL’s (2012) five indicators of transparency.FINDINGS: The study found that Nigeria has tremendous real estate profit potentials (arising from rapid urbanization, the emerging middle class and high GDP levels) which international investors are beginning to notice. There are however opacity barriers confronting such investors in respect of at least four of the five JLL indicators of transparency; the result is that risk-averse international investors like European pension funds shun the country. The study analyzed the potential role of six categories of stakeholders the academia, national/local government, local and international real estate service providers, local and international specialist data vendors, the Securities and Exchange Commision and the professional Institution in addressing deficiencies detected in each of the five indicators and in ultimately increasing the flow of foreign investment.PRACTICAL IMPLICATIONS: The paper provides a much-needed understanding of transparency barriers to foreign direct investment in Africa as well as an articulation of the potential role of six groups of stakeholders in overcoming these barriers.ORIGINALITY/VALUE: The paper has value for all African property market stakeholders who seek enhanced continental property market transparency so that the Continent take its rightful share of global FDI the academia, national/local government, local and international real estate service, local and international specialist data vendors and professional bodies.
目的:本文研究了在仲量联行(2002)的分类中，非洲房地产市场评级不透明的性质，旨在提高非洲大陆的透明度，从而吸引更多的外国投资。设计/方法/方法:这篇论文是一篇理论论文，通过对论文的回顾和合理的分析来得出结论并阐明前进的方向。首先，该论文建立了世界各地区房地产市场透明度与外国直接投资之间的联系，并证明不透明是非洲外国直接投资非常低(仅占全球投资的1%)的原因。接下来，为了更好地理解各大洲不透明问题的性质和原因，并作为提高非洲大陆透明度建议的跳板，尼日利亚被列为撒哈拉以南非洲不透明国家的案例研究。案例研究中的透明度问题采用仲量联行(2012)的五个透明度指标进行调查。调查结果:研究发现尼日利亚具有巨大的房地产利润潜力(源于快速城市化、新兴中产阶级和高GDP水平)，国际投资者已开始注意到这些潜力。然而，在仲量联行的5项透明度指标中，至少有4项存在不透明障碍;其结果是，欧洲养老基金等厌恶风险的国际投资者避开了该国。研究分析了六个类别的利益相关者的潜在作用学术界、国家/地方政府,当地和国际房地产服务提供商,当地和国际专家数据供应商,专业机构的证券交易佣金和解决缺陷检测的五个指标和最终增加外国投资的流动。实际影响:该文件提供了对非洲外国直接投资的透明度障碍的迫切了解，并阐明了六组利益攸关方在克服这些障碍方面的潜在作用。创意/值:有价值的所有非洲大陆房地产市场利益相关者寻求增强房地产市场透明度,大陆以其应有的占全球外国直接投资学术界、国家/地方政府,当地和国际的房地产服务,当地和国际专家数据供应商和专业机构。
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