Does planning matter? Effects on land markets

Wu, W., Dong, G. and Wang, B. (2014) Does planning matter? Effects on land markets. Journal of Real Estate Finance and Economics, 50(2), pp. 242-269. (doi: 10.1007/s11146-014-9455-2)

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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.

Item Type:Articles
Additional Information:Wenjie Wu thanks the Carnegie Trust for Universities of Scotland, and the Adam Smith Research Foundation, University of Glasgow. This paper is also supported by the National Natural Science Foundation of China (Project No. 41230632), Fundamental Research Funds for the Central Universities (12JNYH002), and New Century Excellent Talents in University (NCET-110856).
Glasgow Author(s) Enlighten ID:Wu, Dr Wenjie
Authors: Wu, W., Dong, G., and Wang, B.
College/School:College of Social Sciences > School of Social and Political Sciences > Urban Studies
Journal Name:Journal of Real Estate Finance and Economics
ISSN (Online):1573-045X

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