The Impacts Of Transportation Infrastructure On Property Values: A Higher-Order Spatial Econometrics Approach
AbstractWe evaluate the impacts of enhanced transportation systems on property values for U.S. manufacturing firms, allowing for higher-order spatial error correlation. We use a state-level model of production cost and input demand that recognizes the productive contribution of public transportation infrastructure stocks. Our findings include significant impacts on property shadow values and input composition from both public highway and airport investment. We also find that these effects have a spatial dimension that depends on the proximity of the transport system; at least one and as many as three spatial error lags are significant in our estimating equations. Further, recognizing production growth from transportation system improvements augments the associated incentives for private capital investment. Copyright Blackwell Publishing, Inc. 2007
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Wiley Blackwell in its journal Journal of Regional Science.
Volume (Year): 47 (2007)
Issue (Month): 3 ()
Contact details of provider:
Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-4146
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Jeffrey Thompson, 2010. "Prioritizing Approaches to Economic Development in New England: Skills, Infrastructure, and Tax Incentives," Published Studies priorities_september7_per, Political Economy Research Institute, University of Massachusetts at Amherst.
- Plastina, Alejandro S. & Fulginiti, Lilyan E., 2009.
"Rates of Return to Public Agricultural Research in 48 U.S. States,"
2009 Conference, August 16-22, 2009, Beijing, China
51709, International Association of Agricultural Economists.
- Alejandro Plastina & Lilyan Fulginiti, 2012. "Rates of return to public agricultural research in 48 US states," Journal of Productivity Analysis, Springer, vol. 37(2), pages 95-113, April.
- Plastina, Alejandro S. & Fulginiti, Lilyan E., 2007. "Rates of Return to Public Agricultural Research in 48 U.S. States," 2007 Annual Meeting, July 29-August 1, 2007, Portland, Oregon TN 9858, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
- Deepak Premkumar & Austin Quackenbush & Georgeanne Artz & Peter Orazem, 2013.
"If You Build it, Will They Come?: Fiscal Federalism, Local Provision of Public Tourist Amenities, and the Vision Iowa Fund,"
The Review of Regional Studies,
Southern Regional Science Association, vol. 43(2,3), pages 155-173, Winter.
- Quackenbush, Austin & Premkumar, Deepak & Artz, Georgeanne M. & Orazem, Peter, 2011. "If You Build It, Will They Come?: Fiscal Federalism, Local Provision of Public Tourist Amenities, and the Vision Iowa Fund," Staff General Research Papers 34375, Iowa State University, Department of Economics.
- Harald Badinger & Peter Egger, 2008. "GM Estimation of Higher Order Spatial Autoregressive Processes in Panel Data Error Component Models," CESifo Working Paper Series 2301, CESifo Group Munich.
- Bottasso, Anna & Conti, Maurizio, 2009. "Scale economies, technology and technical change in the water industry: Evidence from the English water only sector," Regional Science and Urban Economics, Elsevier, vol. 39(2), pages 138-147, March.
- Jaghdani, Tinoush Jamali & Brummer, Bernhard, 2011. "Demand for Irrigation Water for Pistachio Production from Depleting Groundwater Resources: Spatial Econometric Approach," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland 114457, European Association of Agricultural Economists.
- Efthymiou, D. & Antoniou, C., 2013. "How do transport infrastructure and policies affect house prices and rents? Evidence from Athens, Greece," Transportation Research Part A: Policy and Practice, Elsevier, vol. 52(C), pages 1-22.
- Harald Badinger & Peter Egger, 2009. "Estimation of Higher-Order Spatial Autoregressive Panel Data Error Component Models," CESifo Working Paper Series 2556, CESifo Group Munich.
- Harald Badinger & Peter Egger, 2014.
"Fixed Effects and Random Effects Estimation of Higher-Order Spatial Autoregressive Models with Spatial Autoregressive and Heteroskedastic Disturbances,"
Department of Economics Working Papers
wuwp173, Vienna University of Economics, Department of Economics.
- Harald Badinger & Peter Egger, 2014. "Fixed Effects and Random Effects Estimation of Higher-Order Spatial Autoregressive Models with Spatial Autoregressive and Heteroskedastic Disturbances," CESifo Working Paper Series 4847, CESifo Group Munich.
- Harald Badinger & Peter Egger, 2008. "GM Estimation of Higher-Order Spatial Autoregressive Processes in Cross-Section Models with Heteroskedastic Disturbances," CESifo Working Paper Series 2356, CESifo Group Munich.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.