Economic and Social Sustainability of Real Estate Market and Problems of Economic Development – a Historical Overview

Open access

Abstract

Real estate market development and its sustainability are closely associated with history and development. Numerous problems have existed in society in the course of the years, including socio-economic problems. Real estate market development is also closely related to economic development, philosophical issues, and the analysis of these issues over the course of time makes it possible to explore both the historical development of these issues and the problems. The objective of the study is to analyze the main economic and real estate market development problems in the course of history by placing special emphasis on the economic development cycle and sustainability issues. Analysis, induction, deduction, historical and logical access methods were used in the research. Economic problems affect also the real estate market development, so the analysis of these problems is necessary in order to find possible solution opportunities.

Active Anglo Chinese Communications. (2016). Retrieved from http://www.activeukchina.com/china-overview/china-economic-history/

Aizsilnieks, A. (1968). Latvian farm history, 1914-1945 (5th ed.). Latvijas saimniecības vēsture, 1914-1945 (5. sējums). Stockholm: Daugava.

Akaev, A. (2010). Ciklicheskie kolebanija v ekonomike i upravlenie dinamikoj ekonomicheskogo razvitija s pomoshhju tehnologicheskih sdvigov. [Cyclical fluctuations in the economy and management of the dynamics of economic development through technological shifts]. Retrieved from gov.cap.ru/home/15/elena/innovazii/huv%20bio/zik.ppt

Ames, G. J. (2004). Mercantilism. In Europe, 1450 to 1789: Encyclopedia of the Early Modern World. Retrieved from http://www.encyclopedia.com/topic/mercantilism.aspx

Archer, R. (2016). Petra. Retrieved from http://ssqq.com/archive/petra.htm

Biart, M. (2002). As cited in Colontonio, A. (2009). Social sustainability: a review and critique of traditional versus emerging themes and assessment methods. In M. Horner, A. Price, J. Bebbington & R. Emmanuel (Eds.), SUE-Mot Conference 2009: Second International Conference on Whole Life Urban Sustainability and its Assessment: conference proceedings. Loughborough: Loughborough University (pp. 865-885). Retrieved from http://eprints.lse.ac.uk/35867/1/Colantonio_Social_sustainability_review_2009.pdf

Brīvers, I. (2009). Ko varam mācīties no ekonomikas vēstures? [What Can We Learn from Economic History?] In Latvijas tautsaimniecības pagātne, tagadne un perspektīvas [Past, Present and Prospects of Latvian Economy] (pp. 5-14). Riga: RTU Press.

Bruksle, I. (2013). Cenu veidošanas būtība mainīgajā uzņēmējdarbības vidē [Pricing essence in a changing business environment]. In V. Zariņa & S. Begečs (Eds.), Uzņēmējdarbības vide un tās attīstības aspekti: monogrāfija [Business environment and its development aspects: monograph] (pp. 71-109). Riga: Business High School Turība.

CERES, IIGCC, INCR, PRI, UNEP Finance Iniciative, RICS. (2016). Sustainable Real Estate investment. Implementing the Paris Climate Agreement: An Action Framework. Retrieved from http://www.unepfi.org/fileadmin/documents/SustainableRealEstateInvestment.pdf

Cēsis Municipality webpage. (2016). Vēsturiskā attīstība [Historical development]. Retrieved from http://old.cesis.lv/?p=11

Chan Wing, S. N. C., Canha, D., & Pretorius. J. H. C. (2015). Residential Solar Water Heating - Measurement and Verification Case Studies. Proceedings of the 8th International Conference on Energy Efficiency in Domestic Appliances and Lighting. Retrieved from http://iet.jrc.ec.europa.eu/energyefficiency/sites/energyefficiency/files/events/EEDAL15/S15_Heating-cooling-1/eedal15_submission_90.pdf

Clayton, P. A., & Price, M. (1988). The Seven Wonders of the Ancient World. London: Routledge.

CrossBorder Capital Ltd. (2012). Global Liquidity Indexes. Retrieved from http://www.liquidity.com/Docs/Global_Liquidity_Indexes_(GLI)_2012_Data.pdf

Deineka, L. N. (2006). Ekonomicheskie cikly [Economic Cycles]. In V. E. Lankin (Ed.), MARKETING: Uchebnoe posobie dlja podgotovki k itogovomu mezhdisciplinarnomu ekzamenu professionalnoj podgotovki marketologa [MARKETING: A manual for the preparation of to the final interdisciplinary exam training in marketing]. Retrieved from http://www.aup.ru/books/m99/1_26.htm

Ding, G. K. C. (2012). Summary of Environmental Assessment Tools for Buildings. In Christian N. Madu & Chu-Hua Kuei. (Eds.), Handbook of sustainability management (pp. 451-453). Singapore: Hackensack, NJ: World Scientific.

Frini, A., & BenAmor, S. (2015). A TOPSIS multi-criteria multi-period approach for selecting projects in sustainable development context, Proceedings of 2015 International Conference on Industrial Engineering and Operations Management, March 3-5, 2015, (pp. 1-9). http://dx.doi.org/10.1109/IEOM.2015.7093900

Gods, U. (2002). Makroekonomika [Macroeconomics]. Riga: Business High School Turība.

Grizāns, J. (2015). Competitiveness of the Business Environment in Latvian Urban Areas and Applicable Tools for its Improvement. Riga: RTU Press.

Hanke, S. H. (2010). The Great 18-Year Real Estate Cycle. Globe Asia. Retrieved from http://www.cato.org/publications/commentary/great-18year-real-estate-cycle

Heinrich, J., Bazeler, U., Sabov, Z., & Koch, V. (2000). Osnovy ekonomicheskoj teorii, principy, problemy, politika. Germanskij opyt i Rossijskij put [Basic economic theory principles, problems, politics. German and Russian experience]. St. Petersburg: Piter.

Heniņš, A. (2007). The Riga Chronicle. Riga: Rīgas balvas biedrība.

Homer. (n.d.). The Iliad. Retrieved from http://www.online-literature.com/homer/iliad/

Homer. (n.d.). The Odyssey. Retrieved from http://www.online-literature.com/homer/odyssey/

Hornblower, S., & Spawforth, A. (2001). The Oxford Classical Dictionary. USA: Oxford University Press.

Huntington, S. P. (1971). The Change to Change: Modernization, Development, and Politics. Comparative Politics, 3(3), 283-322. http://dx.doi.org/10.2307/421470

Juglar, C. (1862). Des crises commerciales et de leur retour périodique. Retrieved from http://gallica.bnf.fr/ark:/12148/bpt6k1060720

Karnups, V. P. (2012). Latvijas tautsaimniecības un finanšu norises (1920-1940) [Latvian economic and financial developments (1920-1940)]. Retrieved from https://www.bank.lv/images/stories/pielikumi/publikacijas/citaspublikacijas/Karnups.pdf

Kauškale, L., Geipele, I., & Riemenschneider, F. (2016). Contemporary Sustainable Development Problems of Construction Industry: Case of Latvia. In Proceedings of Research World International Conference (pp. 5-11). Singapore, March 4, 2016. Khandagiri, Bhubaneswar.

Keynes, J. M. (1936). The General Theory of Employment, Interest and Money. Retrieved from http://cas.umkc.edu/economics/people/facultypages/kregel/courses/econ645/winter2011/generaltheory.pdf

Khalil, E. L. (2001). Adam Smith and Three Theories of Altruism. Louvain Economie Review, 67(4), 421-435. http://dx.doi.org/10.3917/rel.674.0421

Khan, E. (2016). 10 Oldest Continuosly Inhabited Cities. Retrieved from http://www.wonderslist.com/10-oldest-continuously-inhabited-cities/

Kitchin, J. (1923). Cycles and Trends in Economic Factors. Review of Economics and Statistics, 5(1), 10-16. http://dx.doi.org/10.2307/1927031

Kļaviņš, K. (2012). Politikas un īpašuma filozofija [Philosophy of Politics and Property]. Scientific Monograph. Riga: RTU Press.

Kolbergs, A. (1998). The story of Riga: History of Riga, Old Town. Riga: Jāņa sēta.

Koltashov, V. (2010). Volny Kondrateva [Kondratjev waves]. Retrieved from http://www.finansy.ru/st/post_1265710843.html

Kondratieff, N. D., & Stolper, W. F. (1935). The Long Waves in Economic Life. The Review of Economics and Statistics, 17(6), 105-115. http://dx.doi.org/10.2307/1928486

Kondratieff, N. D. (1922). Mirovoe hozjajstvo i ego konjunktury vo vremja i posle vojny [World economy and environment during and after the war]. In Vologda: Trudy konjukturnovo instituta pri Petrovskoy s.-h. akad. [Vologda: Proceedings of Conjuncture Inst. at Petrovsky. agricultural acad.].

Korotayev, A. V., & Tsirel, S. V. (2010). A Spectral Analysis of World GDP Dynamics: Kondratieff Waves, Kuznets Swings, Juglar and Kitchin Cycles in Global Economic Development, and the 2008-2009 Economic Crisis. Structure and Dynamics, 4(1). Retrieved from http://escholarship.org/uc/item/9jv108xp#page-3

Krilovs, L. (2014). Ekonomiskās domas retrospekcija [Restospection of economic thought]. Scientific Monograph. Riga: RTU Press.

Kuznets, S. (1930). Secular Movements in Production and Prices. Their Nature and their Bearing upon Cyclical Fluctuations. Boston: Houghton Mifflin.

LaHaye, L. (2014). Mercantilism. In The Concise Encyclopedia of Economics. Retrieved from http://www.econlib.org/library/Enc/Mercantilism.html

Littig, B., & Grießler, E. (2005). As cited in Colantonio, A. (2009). Social sustainability: a review and critique of traditional versus emerging themes and assessment methods. In M. Horner, A. Price, J. Bebbington & R. Emmanuel (Eds.), SUE-Mot Conference 2009: Second International Conference on Whole Life Urban Sustainability and its Assessment: conference proceedings (pp. 865-885). Loughborough: Loughborough University. Retrieved from http://eprints.lse.ac.uk/35867/1/Colantonio_Social_sustainability_review_2009.pdf

Ludza municipality webpage. (2016). Ludzas pilsēta [City of Ludza]. Retrieved from http://www.ludza.lv/ludzas-novads/ludzas-pilseta/

Mark, J. J. (2014). The Ancient City. In Ancient History Encyclopedia. Retrieved from http://www.ancient.eu/city/

Marshall, A. (1890). Principles of economics (8th ed.). London: Macmillan. Retrieved from http://oll.libertyfund.org/titles/1676

Maslow, A. H. (1954). Motivation and Personality (3rd ed.). New York: Harper & Raw. Retrieved from http://psy2.ucsd.edu/~nchristenfeld/Happiness_Readings_files/Class%207%20- %20Maslow%201954.pdf

Menshikov, S. M., & Klimenko, L. A. (1989). Dlinnye volny v jekonomike: kogda obshhestvo menjaet kozhu [Long Waves in Economics: when Society Changes its Skin]. Moscow: Mezhdunarodnie otnoshenija.

Nefedov, S. A. (2004). Introduction to Social Macrodynamics: Secular Cycles and Millennial Trends (pp. 37-46). Moscow: KomKniga/URSS. Retrieved from http://cliodynamics.ru/download/Korotayev_Secular_Cycles_Chapter1.pdf

Ovechkina, N. I., & Shulgina, N. A. (2012). Teorija ciklicnosti v istorii I demokratii [Cyclicity Theory in Economics and Demography]. Vestnik NSUEM, 2, 105-110.

Paegle, L. (1924). Ievads vēsturē [An introduction to the history]. Riga: Valters un Rapa Issue. Riga: Zvaigzne, 1991.

Pilsēta [City]. (2016). In History Encyclopaedic Dictionary. Retrieved from http://vesture.eu/index.php/Pils%C4%93ta

Polese, B., & Stren, R. (2000). As cited in Colantonio, A. (2009). Social sustainability: a review and critique of traditional versus emerging themes and assessment methods. In M. Horner, A. Price, J. Bebbington & R. Emmanuel (Eds.), SUE-Mot Conference 2009: Second International Conference on Whole Life Urban Sustainability and its Assessment: conference proceedings (pp. 865-885). Loughborough: Loughborough University. Retrieved from http://eprints.lse.ac.uk/35867/1/Colantonio_Social_sustainability_review_2009.pdf

Ricardo, D. (1817). On the Principles of Political Economy and Taxation. London: John Murrey.

Retrieved from http://www.econlib.org/library/Ricardo/ricP1a.html

Sachs, I. (1999). As cited in Colantonio, A. (2009). Social sustainability: a review and critique of traditional versus emerging themes and assessment methods. In M. Horner, A. Price, J. Bebbington, & R. Emmanuel (Eds.), SUE-Mot Conference 2009: Second International Conference on Whole Life Urban Sustainability and its Assessment: conference proceedings (pp. 865-885). Loughborough: Loughborough University. Retrieved from http://eprints.lse.ac.uk/35867/1/Colantonio_Social_sustainability_review_2009.pdf

Schumpeter, J. A. (1939). Business Cycles. A Theoretical, Historical and Statistical Analysis of the Capitalist Process. Retrieved from http://classiques.uqac.ca/classiques/Schumpeter_joseph/business_cycles/schumpeter_business_cycles.pdf

Smirnov, A. S. (2012). Why are there no more Kondratiev large cycles? Voprosi Upravlenija, Retrieved from http://vestnik.uapa.ru/en/issue/2012/04/09/

Smith, A. (1776). An Inquiry into the Nature and Causes of the Wealth of Nations (5th ed.). London: Methuen & Co., Ltd., 1904. Retrieved from http://www.econlib.org/library/Smith/smWN.html

Spekke, A. (1935). Latvieši un Livonija [Latvians and Livonia]. Riga: Zinātne, 1995.

State Unified Computerized Land Register. (2016). Apraksts un vēsture [Description and history]. Retrieved from https://www.zemesgramata.lv/?cid=13

Stoner, J. A. F., & Freeman, R. E. (1989). Strategic Management: Theory and Practice (2nd ed.). London: Thomson Learning.

The Editors of Encyclopædia Britannica. (2015). 7 Wonders of the World. In Encyclopaedia Britanica. Retrieved from http://www.britannica.com/topic/Seven-Wonders-of-the-World

The Telegraph. (2016a). The world`s 20 oldest cities. Retrieved from http://www.telegraph.co.uk/travel/galleries/The-worlds-20-oldest-cities/syria-damascus/

The Telegraph. (2016b). What are the seven wonders of the world? Retrieved from http://www.telegraph.co.uk/travel/advice/What-are-the-seven-wonders-of-the-world/

The World of Wonders. (2016). 7 Wonders of the Medieval World. Retrieved from http://www.theworldwonders.com/medievalwonders.html

Tilde Encyclopaedia of Latvian History. (1998-2002a). Pirmo cilvēku ienākšana Latvijas teritorijā [First people entering the Latvian territory]. In Tildes Datorenciklopēdija Latvijas Vēsture [Tilde Encyclopaedia of Latvian History]. Retrieved from http://www.letonika.lv/groups/default.aspx?cid=31313

Tilde Encyclopaedia of Latvian History. (1998-2002b). Dzimtbūšana [Serfage]. In Tildes Datorenciklopēdija Latvijas Vēsture [Tilde Encyclopaedia of Latvian History]. Retrieved from http://www.letonika.lv/groups/default.aspx?cid=31469

Tsoulfas, G. T., & Pappis C. P. (2012). Supply Chains and Sustainability. In Christian N. Madu & Chu-Hua Kuei (Eds.), Handbook of sustainability management. (pp. 335-352). Singapore: Hackensack, NJ: World Scientific. http://dx.doi.org/10.1142/9789814354820_0016

UN Global Compact, RICS. (2015). Advancing Responsible Business in Land, Construction and Real Estate Use and Investment. Retrieved from http://crnavigator.com/materialy/bazadok/429.pdf

United Nations Population Division. (2001). The World at Six Billion. Retrieved from http://www.un.org/esa/population/publications/sixbillion/sixbilpart1.pdf

United States Census Bureau. (2016). World Population. Retrieved from http://www.census.gov/population/international/data/worldpop/table_history.php

Vanags, J. (2010). Real Estate Economics. Riga: RTU Press.

Veblen, T. (1899). The Theory of Leisure Class. Retrieved from http://moglen.law.columbia.edu/LCS/theoryleisureclass.pdf

Violatti, C. (2014). Zhou Dynasty. In Ancient History Encyclopedia. Retrieved from http://www.ancient.eu/Zhou_Dynasty

World of New 7 Wonders. (2016). New 7 Wonders of the World. Retrieved from http://world.new7wonders.com/?n7w-page=new7wonders-of-the-world

Worldometers. (2016). World population: Past, Present and Future. Retrieved from http://www.worldometers.info/world-population

Zalts, A. (1938). Nacionālā saimniecība 20 gados: Centieni un sasniegumi. Riga: Pagalms. Retrieved from https://www.bank.lv/images/stories/pielikumi/publikacijas/citaspublikacijas/Karnups.pdf

Zelče, V. (2008). Sagaidot 1940. gadu: ieskats Latvijas iedzīvotāju vēstulēs prezidentam [In anticipation of 1940: insight into the Latvian population letter to President]. Latvian Archives. History, 4, p. 123. Retrieved from http://www.arhivi.lv/sitedata/ZURNALS/zurnalu_raksti/Zekce.pdf

Zuleeg, F. (2010). European Economic Sustainability Index. Retrieved from http://www.epc.eu/documents/uploads/pub_1127_eesi.pdf

Journal Information

Metrics

All Time Past Year Past 30 Days
Abstract Views 0 0 0
Full Text Views 204 204 82
PDF Downloads 64 64 24