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The Economic Costs and Transport Benefits of Seoul’s Industrial Land Use Controls

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  • Myung-Jin Jun

Abstract

This study focuses on both the favourable and adverse consequences of Seoul’s industrial development controls; namely, the transport benefits and the economic costs. The study develops a method to estimate the effects of the controls by combining three different models: a 2SLS regression model, a random-utility-based location choice model and a transport model. The most important findings are the aggregate annual economic costs and transport benefits of the controls: a $45.9 billion output and 336 000 job losses versus $4.8 billion in transport cost savings. These empirical findings indicate that the citizens of the Seoul metropolitan region would be better off economically, with more job opportunities, in the absence of the industrial development controls, and would pay relatively minor transport costs for these benefits.

Suggested Citation

  • Myung-Jin Jun, 2012. "The Economic Costs and Transport Benefits of Seoul’s Industrial Land Use Controls," Urban Studies, Urban Studies Journal Limited, vol. 49(8), pages 1791-1810, June.
  • Handle: RePEc:sae:urbstu:v:49:y:2012:i:8:p:1791-1810
    DOI: 10.1177/0042098011419235
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    References listed on IDEAS

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    1. Myung-Jin Jun, 2004. "A metropolitan input-output model: Multisectoral and multispatial relations of production, income formation, and consumption," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 38(1), pages 131-147, March.
    2. Hanushek, Eric A & Quigley, John M, 1990. "Commercial Land Use Regulation and Local Government Finance," American Economic Review, American Economic Association, vol. 80(2), pages 176-180, May.
    3. Quigley, John M. & Rosenthal, Larry A., 2005. "The Effects of Land-Use Regulation on the Price of Housing: What Do We Know? What Can We Learn?," Berkeley Program on Housing and Urban Policy, Working Paper Series qt90m9g90w, Berkeley Program on Housing and Urban Policy.
    4. John M. Quigley & Steven Raphael, 2005. "Regulation and the High Cost of Housing in California," American Economic Review, American Economic Association, vol. 95(2), pages 323-328, May.
    5. Myung-Jin Jun, 2005. "Forecasting Urban Land-Use Demand Using a Metropolitan Input-Output Model," Environment and Planning A, , vol. 37(7), pages 1311-1328, July.
    6. Son, Jae-Young & Kim, Kyung-Hwan, 1998. "Analysis of Urban Land Shortages: The Case of Korean Cities," Journal of Urban Economics, Elsevier, vol. 43(3), pages 362-384, May.
    7. Edwin S. Mills, 2002. "Government Urban Growth Controls," International Real Estate Review, Global Social Science Institute, vol. 5(1), pages 1-11.
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    Cited by:

    1. García Castro, David & Elizagarate Gutiérrez, Victoria & Letamendia Galdós, Iñaki & Kazak, Jan, 2014. "Hiriguneko garraio publiko sistemaren eragina hirien bizi kalitatearen hautematean. City marketinaren ikuspuntutik hausnarketa," Revista de Dirección y Administración de Empresas, Universidad del País Vasco - Escuela Universitaria de Estudios Empresariales de San Sebastián.

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