IDEAS home Printed from
   My bibliography  Save this article

Land markets and land market regulation: progress towards understanding


  • Cheshire, Paul
  • Sheppard, Stephen


We introduce the papers in this volume and put them into the context of the literature on land use regulation. We then synthesise and draw some conclusions from existing research on land use regulation and interpret the evidence currently available. In the light of this review we then identify issues for research. As we stress in this introduction, the analysis of land use regulation is, compared to regulation in other contexts, significantly neglected. We hope that this special issue which draws on the results of a conference held at the Lincoln Institute of Land Policy in the summer of 2002 will go some way towards highlighting and remedying this neglect.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Cheshire, Paul & Sheppard, Stephen, 2004. "Land markets and land market regulation: progress towards understanding," Regional Science and Urban Economics, Elsevier, vol. 34(6), pages 619-637, November.
  • Handle: RePEc:eee:regeco:v:34:y:2004:i:6:p:619-637

    Download full text from publisher

    File URL:
    Download Restriction: Full text for ScienceDirect subscribers only

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    References listed on IDEAS

    1. Thorsnes, Paul, 2000. "Internalizing Neighborhood Externalities: The Effect of Subdivision Size and Zoning on Residential Lot Prices," Journal of Urban Economics, Elsevier, vol. 48(3), pages 397-418, November.
    2. Brueckner, Jan K. & Lai, Fu-Chuan, 1996. "Urban growth controls with resident landowners," Regional Science and Urban Economics, Elsevier, vol. 26(2), pages 125-143, April.
    3. Mayer, Christopher J. & Somerville, C. Tsuriel, 2000. "Land use regulation and new construction," Regional Science and Urban Economics, Elsevier, vol. 30(6), pages 639-662, December.
    4. Jan K. Brueckner, 1990. "Growth Controls and Land Values in an Open City," Land Economics, University of Wisconsin Press, vol. 66(3), pages 237-248.
    5. Engle, Robert & Navarro, Peter & Carson, Richard, 1992. "On the theory of growth controls," Journal of Urban Economics, Elsevier, vol. 32(3), pages 269-283, November.
    6. Cheshire, Paul & Sheppard, Stephen, 1998. "Estimating the Demand for Housing, Land, and Neighbourhood Characteristics," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 60(3), pages 357-382, August.
    7. Mayo, Stephen & Sheppard, Stephen, 2001. "Housing Supply and the Effects of Stochastic Development Control," Journal of Housing Economics, Elsevier, vol. 10(2), pages 109-128, June.
    8. Elena G. Irwin, 2002. "Interacting agents, spatial externalities and the evolution of residential land use patterns," Journal of Economic Geography, Oxford University Press, vol. 2(1), pages 31-54, January.
    9. Philip E Graves, 2003. "Nonoptimal Levels of Suburbanization," Environment and Planning A, , vol. 35(2), pages 191-198, February.
    10. Christian A. L. Hilber & Christopher J. Mayer, "undated". "Land Supply, House Price Capitalization, and Local Spending on Schools," Zell/Lurie Center Working Papers 392, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania.
    11. Riddiough, Timothy J., 1997. "The Economic Consequences of Regulatory Taking Risk on Land Value and Development Activity," Journal of Urban Economics, Elsevier, vol. 41(1), pages 56-77, January.
    12. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
    13. J. Phillips & E. Goodstein, 2000. "Growth management and housing prices: the case of Portland, Oregon," Contemporary Economic Policy, Western Economic Association International, vol. 18(3), pages 334-344, July.
    14. Cheshire, Paul & Sheppard, Stephen, 1995. "On the Price of Land and the Value of Amenities," Economica, London School of Economics and Political Science, vol. 62(246), pages 247-267, May.
    15. Smith, V. Kerry & Poulos, Christine & Kim, Hyun, 2002. "Treating open space as an urban amenity," Resource and Energy Economics, Elsevier, vol. 24(1-2), pages 107-129, February.
    16. Brueckner, Jan K., 1995. "Strategic control of growth in a system of cities," Journal of Public Economics, Elsevier, vol. 57(3), pages 393-416, July.
    17. Evans, Alan W., 1999. "The land market and government intervention," Handbook of Regional and Urban Economics,in: P. C. Cheshire & E. S. Mills (ed.), Handbook of Regional and Urban Economics, edition 1, volume 3, chapter 42, pages 1637-1669 Elsevier.
    18. Edward L. Glaeser & Joseph Gyourko, 2003. "The impact of building restrictions on housing affordability," Economic Policy Review, Federal Reserve Bank of New York, issue Jun, pages 21-39.
    Full references (including those not matched with items on IDEAS)


    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.

    Cited by:

    1. Paul Cheshire & Stephen Sheppard, 2004. "The Introduction of Price Signals into Land Use Planning," Urban/Regional 0410002, EconWPA.
    2. Paul Metzemakers & Erik Louw, 2005. "Land as production factor," ERSA conference papers ersa05p220, European Regional Science Association.
    3. Solé-Ollé, Albert & Viladecans-Marsal, Elisabet, 2012. "Lobbying, political competition, and local land supply: Recent evidence from Spain," Journal of Public Economics, Elsevier, vol. 96(1), pages 10-19.
    4. Nathan, Max & Overman, Henry G., 2011. "What we know (and don't know) about the links between planning and economic performance," LSE Research Online Documents on Economics 59232, London School of Economics and Political Science, LSE Library.
    5. Miquel-Àngel Garcia-López & Albert Solé-Ollé & Elisabet Viladecans-Marsal, 2014. "Do land use policies follow road construction?," Working Papers 2014/2, Institut d'Economia de Barcelona (IEB).
    6. Oikarinen, Elias & Peltola, Risto & Valtonen, Eero, 2015. "Regional variation in the elasticity of supply of housing, and its determinants: The case of a small sparsely populated country," Regional Science and Urban Economics, Elsevier, vol. 50(C), pages 18-30.
    7. Kwasi Gyau BAFFOUR AWUAH & Felix N. HAMMOND & Colin A. BOOTH & Jessica E. LAMOND, 2014. "Evolution And Development Of Urban Land Use Planning: Analysis From Human Action Theory Perspective," Theoretical and Empirical Researches in Urban Management, Research Centre in Public Administration and Public Services, Bucharest, Romania, vol. 9(2), pages 35-67, May.
    8. ., 2014. "Planning for a housing crisis: or the alchemy by which we turn houses into gold," Chapters,in: Urban Economics and Urban Policy, chapter 4, pages 79-103 Edward Elgar Publishing.
    9. Michael Ball, 2008. "UK Planning Controls and the Market Responsiveness of Housing Supply," Real Estate & Planning Working Papers rep-wp2008-13, Henley Business School, Reading University.
    10. Cheshire, Paul, 2009. "Urban land markets and policy failures," LSE Research Online Documents on Economics 30837, London School of Economics and Political Science, LSE Library.
    11. Cheshire, P. C. & Sheppard, Stephen Charles, 2005. "The introduction of price signals into land use planning decision-making : a proposal," LSE Research Online Documents on Economics 568, London School of Economics and Political Science, LSE Library.
    12. ., 2014. "Planning and economic performance," Chapters,in: Urban Economics and Urban Policy, chapter 5, pages 104-126 Edward Elgar Publishing.
    13. Paul Cheshire & Stephen Sheppard, 2005. "Introducing Price Signals into Land Use Planning Decision-making - a Proposal," ERSA conference papers ersa05p42, European Regional Science Association.
    14. Albert Solé-Ollé & Elisabet Viladecans-Marsal, 2013. "The Influence Wielded by Land Developer Lobbies During the Housing Boom: Recent Evidence From Spain," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 11(2), pages 43-49, 07.
    15. Johann Spitzer & Giuseppe Folloni, 2013. "Is Growth of Large Cities Linked to Economic and Institutional Weaknesses?," SCIENZE REGIONALI, FrancoAngeli Editore, vol. 2013(3), pages 23-52.
    16. Garcia-López, Miquel-Àngel & Solé-Ollé, Albert & Viladecans-Marsal, Elisabet, 2015. "Does zoning follow highways?," Regional Science and Urban Economics, Elsevier, vol. 53(C), pages 148-155.
    17. repec:ces:ifodic:v:11:y:2013:i:2:p:19094733 is not listed on IDEAS
    18. Michael Ball & Phil Allmendinger & Cathy Hughes, 2008. "Housing Supply and Planning Delay in the South of England," Real Estate & Planning Working Papers rep-wp2008-04, Henley Business School, Reading University.

    More about this item

    JEL classification:

    • D6 - Microeconomics - - Welfare Economics
    • H4 - Public Economics - - Publicly Provided Goods
    • L5 - Industrial Organization - - Regulation and Industrial Policy
    • R1 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:regeco:v:34:y:2004:i:6:p:619-637. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dana Niculescu). General contact details of provider: .

    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 CitEc recognized a reference but did not link an item in RePEc 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 RePEc Author Service 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.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.