Growth Controls, Real Options, and Land Development

Cunningham, Chris

doi:10.1162/rest.89.2.343

Cited by 129 publications

(75 citation statements)

References 42 publications

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“…In a study on UGBs in Seattle by Cunningham, a pseudo-UGB was constructed for Seattle's UGB to test the probability of land development, both within and outside the UGB [55]. This article refers to this practice, and we obtained a new narrow greenbelt by indenting it 500 m from the inner and outer boundaries of the present greenbelt.…”

Section: Robustness Checksmentioning

confidence: 99%

The Effects of Greenbelt Policies on Land Development: Evidence from the Deregulation of the Greenbelt in the Seoul Metropolitan Area

et al. 2017

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Greenbelt policies are important urban containment policies. On the one hand, they can effectively control the disorderly growth of a city; on the other hand, they can cause other social problems because of their strict control over land development. This paper uses data from 2000 and 2010 and the difference-in-differences (DID) method to evaluate the effects of greenbelt deregulation policies on urban land development in the Seoul metropolitan area (SMA) through a quasi-natural experiment. The results show that first, the deregulation of the greenbelt has significantly furthered urban land development that was not caused by economic development or other factors. Second, the greenbelt deregulation had no significant effects on urban land development in the city centers, but has furthered urban land development near the boundary of Seoul City and greenbelt boundaries. Third, in terms of the effects on land development, the greenbelt deregulation has resulted in regional heterogeneity. Specifically, the greenbelt deregulation has had a significant impact on the urban land development in the southern section of the Han River, whereas the effects of the greenbelt deregulation in the northern area of the Han River are not as obvious.

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Section: Robustness Checksmentioning

confidence: 99%

The Effects of Greenbelt Policies on Land Development: Evidence from the Deregulation of the Greenbelt in the Seoul Metropolitan Area

et al. 2017

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“…Subsequent amendments to the Land Acquisition Act changed the statutory date for purposes of valuation for compensation to 1 January of 1986, 1992, and 1995. In 2007, the use of a historical statutory date was removed by Parliament, and compensation has since been pegged to full market value.…”

Section: The Land Acquisition Act 1966mentioning

confidence: 99%

“…However, in the case of Singapore, these lower development intensity effects do not exist for land leases sold by the government because the government defines the land use, development intensity (plot ratio), and time-to-project completion under the Government Land Sales Programme. The detailed planning regulations basically strip away development options and reduce the uncertainty linked to the optimal time to exercise the real option of land development, thus accelerating investments (Cunningham 2007).…”

Section: Land Lease Systemmentioning

confidence: 99%

Housing Policies in Singapore

Phang

Helble

2016

SSRN Journal

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in Asian Development Bank InstituteThe Working Paper series is a continuation of the formerly named Discussion Paper series; the numbering of the papers continued without interruption or change. ADBI's working papers reflect initial ideas on a topic and are posted online for discussion. ADBI encourages readers to post their comments on the main page for each working paper (given in the citation below). Some working papers may develop into other forms of publication. The views expressed in this paper are the views of the author and do not necessarily reflect the views or policies of ADBI, ADB, its Board of Directors, or the governments they represent. ADBI does not guarantee the accuracy of the data included in this paper and accepts no responsibility for any consequences of their use. Terminology used may not necessarily be consistent with ADB official terms.Working papers are subject to formal revision and correction before they are finalized and considered published.Asian Development Bank Institute Kasumigaseki Building 8F 3-2-5 Kasumigaseki, Chiyoda-ku Tokyo 100-6008, Japan AbstractSingapore has developed a unique housing system, with three-quarters of its housing stock

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“…www.eea.europa.eu/data-and-maps/indicators/nationally-designated-protectedareas#tab-latest-figures-and-vizualizations. 4 Environment Canada -Canadian Protected Areas -Status Report 2006-2011 It has been shown that land-use regulations have strong influence on the supply of housing, and thus its price (Pollakowski and Wachter, 1990;Sommerville, 2000a and2000b;Raphael, 2004 andGlaeser and Ward, 2009;Kok et al, 2014), its location and pattern of development (Quigley and Swoboda, 2007;Ihlanfeldt, 2007;Cheshire and Vermeulen, 2009), the timing of development (Mayer and Sommerville, 2000a;Cunningham, 2007), and social segregation (Levine, 1999). Land-use regulations may also potentially have non-negligible distributional effects (Quigley and Swoboda, 2007;Cheshire and Vermeulen, 2009).…”

Section: Introductionmentioning

confidence: 99%