Does Planning Matter? Effects on Land Markets

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• 作者：Wenjie Wu (1)
  Guanpeng Dong (2)
  Bing Wang (3)
  
  1. Urban Studies ; School of Social and Political Sciences ; University of Glasgow ; 25 Bute Gardens ; Glasgow ; G12 8RS ; UK
  2. School of Geographical Sciences ; University of Bristol ; University Road ; Bristol ; BS8 1SS ; UK
  3. College of Economics ; Ji Nan University ; No. 601 Huangpu Road West ; Guangzhou ; 510632 ; China
  
• 关键词：Land markets ; Transport infrastructure ; China ; H41 ; Q51 ; R41
• 刊名：The Journal of Real Estate Finance and Economics
• 出版年：2015
• 出版时间：February 2015
• 年：2015
• 卷：50
• 期：2
• 页码：242-269
• 全文大小：728 KB
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• 刊物类别：Business and Economics
• 刊物主题：Economics
  Regional Science
  Finance and Banking
  
• 出版者：Springer Netherlands
• ISSN：1573-045X

文摘

This paper uses a spatial multi-intervention difference-in-difference method to examine the opening and planning impacts of transport improvements on land markets in a mega-city of China. The results suggest the significant heterogeneity in the capitalization effects from changes in rail access on prices for different land uses in affected areas versus unaffected areas. Residential and commercial land parcels receiving increased station proximity experience appreciable price premiums. However, such effects vary widely over space. These results add to the evidence that public investments have an important role to play in spurring the spatially targeted land market.