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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.

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  • 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
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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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