Measuring the impact of large‐scale transportation projects on land price using spatial statistical models*

Morito Tsutsumi and Hajime Seya

Papers in Regional Science, 2008, vol. 87, issue 3, 385-401

Abstract: Abstract. Large‐scale transportation projects such as the construction of a commuter railway accessible to metropolises have a significant regional impact. This study attempts to measure this impact using spatial statistical models and land price data. First, dynamic changes in the land price are analysed and the so‐called announcement effect is presented using the spatial interpolation techniques. Second, various types of land price models are constructed by employing the existing methods of spatial econometrics and geostatistics; their estimates and project benefits are compared and discussed, particularly from the viewpoint of policy implications. Resumen. Los proyectos de transporte de gran escala tales como la construcción de un tren suburbano de acceso a una metrópolis tienen un impacto regional significativo. Este estudio intenta medir este impacto utilizando modelos estadísticos espaciales y datos del precio del suelo. Primero, se analizan cambios dinámicos en el precio del suelo y se presenta el llamado efecto de anuncio utilizando técnicas de interpolación espacial. Segundo, se construyen varios tipos de modelos de precio del suelo mediante el empleo de métodos existentes de econometría espacial y geoestadística; se comparan y discuten sus estimaciones y los beneficios del proyecto, en particular desde el punto de vista de sus implicaciones políticas.

Date: 2008
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Citations: View citations in EconPapers (12)

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https://doi.org/10.1111/j.1435-5957.2008.00192.x

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Persistent link: https://EconPapers.repec.org/RePEc:bla:presci:v:87:y:2008:i:3:p:385-401

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