The Local and Network Effects of Rail Transit Network Expansion on Retail Property Values

IF 2.8 3区经济学 Q2 REGIONAL & URBAN PLANNING

Journal of Planning Education and Research Pub Date : 2022-09-13 DOI:10.1177/0739456x221121247

Yi Zhu, Mi Diao

引用次数: 1

Abstract

Using Singapore as an example, we find that the opening of new rail transit lines can boost retail property values in areas not only along the new lines (local effect) but also along the existing lines (network effect) due to the increase in network size. We also show the local effect of a new rail line changes over time at different development stages. Ignoring the time-varying local effect and the network effect could lead to biased estimates of the value-added of rail transit and misguide policy formation in rail transit investment, land value capture, and transit-oriented development.

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轨道交通网络扩张对零售物业价值的局部和网络效应

以新加坡为例，我们发现新的轨道交通线路的开通不仅可以提高新线沿线地区的零售物业价值(本地效应)，而且由于网络规模的增加，也可以提高现有线路沿线地区的零售物业价值(网络效应)。我们还展示了一条新铁路线在不同发展阶段的局部效应随时间的变化。忽视时变的局部效应和网络效应会导致对轨道交通增值的估计有偏差，并会误导轨道交通投资、土地价值获取和交通导向发展的政策形成。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Planning Education and Research Multiple-

CiteScore

7.40

自引率

4.50%

发文量

期刊介绍： The Journal of Planning Education and Research (JPER) is a forum for planning educators and scholars (from both academia and practice) to present results from teaching and research that advance the profession and improve planning practice. JPER is the official journal of the Association of Collegiate Schools of Planning (ACSP) and the journal of record for North American planning scholarship. Aimed at scholars and educators in urban and regional planning, political science, policy analysis, urban geography, economics, and sociology, JPER presents the most vital contemporary trends and issues in planning theory, practice, and pedagogy.