ORCID Profile
0000-0002-8245-5978
Current Organisation
University of Ulster at Jordanstown
Does something not look right? The information on this page has been harvested from data sources that may not be up to date. We continue to work with information providers to improve coverage and quality. To report an issue, use the Feedback Form.
Publisher: SAGE Publications
Date: 03-2010
Publisher: Informa UK Limited
Date: 03-2011
Publisher: Emerald
Date: 02-08-2013
DOI: 10.1108/JFMPC-07-2012-0028
Abstract: The purpose of this paper is to explore the implications of the Global Financial Crisis (GFC) on Public Private Partnership (PPP) markets around the world. Specifically, it aims to highlight the extent of over reliance on debt finance, as well as the conditions needed to attract enhanced levels of institutional investment into key infrastructural provision. Quantitative insight for the paper is derived from the Infrastructure Online Database. The Infrastructure Journal ( IJ ) Online Database profiles PFI/PPP deals around the world depicting the key actors involved, as well as the capital value of deals and the financial structures applied in terms of debt, equity and Multilateral and Government Finance. The quantitative insight derived from the IJ database is complemented by interview evidence and forum‐based discussion. In total, 38 interviews were conducted with a erse range of key stakeholder groupings from across the public and private sectors, including government advisers, client side representatives (Health and Education sectors), contractors, financiers and FM providers. Interviewees were drawn from five key PPP markets at different stages in the maturity cycle, namely, Australia, Canada, India, the UK and the USA. In addition to the interviews, three forum‐based discussions were undertaken as part of the investigation exploring the key themes to emerge from the interviews from multi‐stakeholder perspectives. The findings from the study highlight a number of inherent deficiencies in the PPP model, including the over reliance on private sector debt. Additionally, the research profiles the extent and form of national government interventions in PPP markets around the world, highlighting the need for a more innovative, sustainable and balanced funding frameworks for essential infrastructure conducive to the next economic/financial cycle. This study is distinct in that it examines the cross‐jurisdictional implications of the global financial crisis on PPP markets.
Publisher: Emerald
Date: 13-04-2012
DOI: 10.1108/13664381211211046
Abstract: Tobler's law of geography states that things that are close to one another tend to be more alike than things that are far apart. In this regard, the spatial pattern of price distribution is defined by the arrangement of in idual entities in space and the geographic relationships among them. The purpose of this paper is to provide emerging findings of research analysing the salient factors which impact on the sale price of residential properties using a spatial regression approach. The research develops and formulates a geographically weighted regression (GWR) model to incorporate residential sales transactions within the Belfast Metropolitan Area over the course of 2010. Transaction data were sourced from the University of Ulster House Price Index survey (2010, Q1‐Q4). The GWR approach was then evaluated relative to a standard hedonic model to determine the spatial heterogeneity of residential property price within the Belfast Metropolitan Area. This investigation finds that the GWR technique provides increased accuracy in predicting marginal price estimates, in comparison with traditional hedonic modelling, within the Belfast housing market. This study is one of only a few investigations of spatial house price variation applying the GWR methodology within the confines of a UK housing market. In this respect it enhances applied based knowledge and understanding of geographically weighted regression.
Publisher: Emerald
Date: 04-10-2011
DOI: 10.1108/17538271111172175
Abstract: The downturn in the residential housing market in Northern Ireland (NI) has been the most pronounced of any UK region, with house prices contracting circa 40 per cent between 2007Q3 and 2009Q4. The downturn at first glance appears to have increased the “ability to afford” however this is nonetheless a “false dawn”. Significant deposit levels coupled with a more prudent lending culture has ensured that housing affordability remains a primary policy concern. The purpose of this paper is to empirically analyse the interrelationships between mortgage liquidity and housing affordability in NI during the boom‐bust cycle in the residential property market. The paper analyses mortgage‐lending statistics for NI in the period 1993‐2009, using time series panel data. House price data are drawn from the University of Ulster House Price Index over the same time series. To facilitate analytical interpretation and outcome analysis, quantitative evaluation is applied within a first‐time buyer (FTB) affordability framework. This study finds that the relationship between mortgage finance and affordability has been driven by deregulation of the mortgage market contributing to the rise in house prices and affordability pressures during the market up cycle. More recently, ongoing liquidity constraints within the financial sector are impairing recovery in the residential property market culminating in heightened concerns of both purchase and “deposit gap” affordability. The key findings suggest that the new significant capital requirement needed to access the housing market will inevitably prolong affordability pressures for the foreseeable future. This paper contributes to affordability debate in two ways. First, it examines the effect of both liberalised and contracted patterns of mortgage finance on affordability and argues that conventional approaches appear to present a “false dawn” for FTBs in NI. Second, the paper demonstrates that affordability post‐financial crisis has shifted in genre towards a purchase and deposit gap (lag time) issue.
Location: United Kingdom of Great Britain and Northern Ireland
No related grants have been discovered for Martin Haran.