Spatial development and the law of one price : Evidence of convergence of land values
Abstract
Many developing countries exhibit imbalanced spatial development, but corrective policies are hampered by lack of adequate sub-regional development data. Building on the insights of the factor price equalization theorem and by applying measures of spatial autocorrelation on land values, patterns of local development and linkages in the Philippines are traced. Evidence of convergence in provincial and urban land values is found in 1986-2000, although the clustering is more local than global. Thus, greater infrastructure investments and use of land values by local governments as policy guides should be made to facilitate in-country trade and migration, and to disperse growth.Download Info
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Paper provided by University of the Philippines School of Economics in its series UP School of Economics Discussion Papers with number 201001.
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Length: 27 pages
Date of creation: Jan 2010
Date of revision:
Publication status: Published as UPSE Discussion Paper No. 2010-01, January 2010
Handle: RePEc:phs:dpaper:201001
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Postal: Diliman, Quezon City 1101
Phone: 927-9686
Web page: http://www.econ.upd.edu.ph/
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For corrections or technical questions regarding this item, or to correct its listing, contact: (Reuben T. Campos).
Related research
Keywords: Spatial development; land values; convergence; Philippines;Find related papers by JEL classification:
- O18 - Economic Development, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
- R12 - Urban, Rural, Regional and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)
- R14 - Urban, Rural, Regional and Transportation Economics - - General Regional Economics - - - Land Use Patterns
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-10-23 (All new papers)
- NEP-DEV-2010-10-23 (Development)
- NEP-GEO-2010-10-23 (Economic Geography)
- NEP-SEA-2010-10-23 (South East Asia)
- NEP-URE-2010-10-23 (Urban & Real Estate Economics)
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