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An evaluation of inclusive capital stock for urban planning

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  • Fujii, Hidemichi
  • Managi, Shunsuke

Abstract

Rapid urbanization has caused significant problems, and sustainable city design can play an important role in solving these problems under limited budgets and resources. Previous studies have proposed city evaluation indicators that can suggest appropriate urban designs. However, these indicators do not clearly consider economic theory, which is crucial for understanding accumulation of urban capital stock by the flows from daily urban activities. This study proposes a research framework based on economic theory for evaluating urban sustainability; this framework uses the inclusive wealth index (IWI) concept to examine inclusive urban capital stock. It examines the advantages of using the IWI as a city evaluation indicator along with data envelopment analysis and a decomposition analysis framework. We use data for 20 Japanese ordinance-designated cities for an empirical study to demonstrate a proposed approach for evaluating inclusive urban capital. The developed research application evaluates each city’s relative superiority in terms of capital accumulation and identifies those factors determining changes in capital flows via changes in efficiency, priority, and scale. The combination of these results can be helpful to decision makers seeking to increase urban capital by considering reference city information and relative superiority.

Suggested Citation

  • Fujii, Hidemichi & Managi, Shunsuke, 2016. "An evaluation of inclusive capital stock for urban planning," MPRA Paper 73306, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:73306
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    File URL: https://mpra.ub.uni-muenchen.de/73306/1/MPRA_paper_73306.pdf
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    References listed on IDEAS

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    1. Fujii, Hidemichi & Managi, Shunsuke, 2015. "Trends in corporate environmental management studies and databases," MPRA Paper 66531, University Library of Munich, Germany.
    2. Arrow, Kenneth J. & Dasgupta, Partha & Goulder, Lawrence H. & Mumford, Kevin J. & Oleson, Kirsten, 2012. "Sustainability and the measurement of wealth," Environment and Development Economics, Cambridge University Press, vol. 17(3), pages 317-353, June.
    3. Tamaki, Tetsuya & Nakamura, Hiroki & Fujii, Hidemichi & Managi, Shunsuke, 2019. "Efficiency and emissions from urban transport: Application to world city-level public transportation," Economic Analysis and Policy, Elsevier, vol. 61(C), pages 55-63.
    4. Sun, J. W., 1998. "Changes in energy consumption and energy intensity: A complete decomposition model," Energy Economics, Elsevier, vol. 20(1), pages 85-100, February.
    5. Charnes, A. & Cooper, W. W. & Rhodes, E., 1978. "Measuring the efficiency of decision making units," European Journal of Operational Research, Elsevier, vol. 2(6), pages 429-444, November.
    6. Hidemichi Fujii & Shunsuke Managi, 2016. "Trends in corporate environmental management studies and databases," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 18(2), pages 265-272, April.
    7. Hiroki Tanikawa & Shunsuke Managi & Cherry Myo Lwin, 2014. "Estimates of Lost Material Stock of Buildings and Roads Due to the Great East Japan Earthquake and Tsunami," Journal of Industrial Ecology, Yale University, vol. 18(3), pages 421-431, May.
    8. Cook, Wade D. & Tone, Kaoru & Zhu, Joe, 2014. "Data envelopment analysis: Prior to choosing a model," Omega, Elsevier, vol. 44(C), pages 1-4.
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    Cited by:

    1. Hidemichi Fujii & Masayuki Sato & Shunsuke Managi, 2017. "Decomposition Analysis of Forest Ecosystem Services Values," Sustainability, MDPI, Open Access Journal, vol. 9(5), pages 1-14, April.
    2. Zaiwu Gong & Xiaoqing Chen, 2017. "Analysis of Interval Data Envelopment Efficiency Model Considering Different Distribution Characteristics—Based on Environmental Performance Evaluation of the Manufacturing Industry," Sustainability, MDPI, Open Access Journal, vol. 9(12), pages 1-25, November.
    3. Masayuki Sato & Kenta Tanaka & Shunsuke Managi, 2018. "Inclusive wealth, total factor productivity, and sustainability: an empirical analysis," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 20(4), pages 741-757, October.
    4. Takayabu, Hirotaka, 2020. "CO2 mitigation potentials in manufacturing sectors of 26 countries," Energy Economics, Elsevier, vol. 86(C).

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    More about this item

    Keywords

    inclusive urban capital; urban planning; sustainability; decomposition analysis; data envelopment analysis;
    All these keywords.

    JEL classification:

    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy

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