scholarly journals The Neighborhood Effects of a Place-Based Policy—Causal Evidence from Atlanta’s Economic Development Priority Areas

2021 ◽  
Vol 13 (12) ◽  
pp. 6808
Author(s):  
Yuxi Luo ◽  
Zhaohua Zhang ◽  
Jun Zheng ◽  
Diane Hite
Keyword(s):  
Economic Development ◽  
Low Income ◽  
Neighborhood Effects ◽  
Economic Status ◽  
Housing Prices ◽  
Labor Demand ◽  
Housing Price ◽  
Poverty Rate ◽  
Priority Areas ◽  
Positive Effects

Place-based policies refer to government efforts to enhance the economic performance of an area within its jurisdiction. Applying various difference in differences strategies, this study evaluates the neighborhood effects of a place-based policy—the Economic Development Priority Areas (EDPA) of Atlanta, Georgia, USA. Since the census block groups are locally defined and the boundaries may change over time, we defined the neighborhoods by creating a set of 0.25-mile- diameter circles evenly distributed across Atlanta, and used the created buffers as the comparison unit. The empirical estimates showed that EDPA designation significantly reduced poverty rate and increased housing price of EDPA neighborhoods but had no beneficial effects on population size and employment rate. The heterogeneous analysis with respect to different initial economic status of the neighborhoods showed a relative larger and significant effect of EDPA designation on low-income neighborhoods. The increasing labor demand induced by EDPA designation in low-income neighborhoods attracted more population to migrate in and put upward pressure on housing prices. The estimation results are robust when replacing the 0.25-mile-diameter circle neighborhoods with 0.5-mile-diameter circle neighborhoods. Although we found some positive effects of the EDPA program in Atlanta, it would be misguided to assume similar effects occur in other areas implementing place-based policies.

Remittance and Economic Development of Nepal

Patan Pragya ◽  
2019 ◽  
Vol 5 (1) ◽  
pp. 196-208
Author(s):  
Badri Narayan Sah
Keyword(s):  
Economic Development ◽  
Household Income ◽  
Poverty Reduction ◽  
Economic Status ◽  
Poverty Rate ◽  
Daily Consumption ◽  
Gulf Countries ◽  
The World ◽  
Internal Sources ◽  
Sources Of Capital

Nepal is one of the least developed but high remittances recipient countries in the world. Nepal received remittance from US$ 8.1 billion in 2016 and it is ranked 23rd among the remittance receiving countries in the world. Remittance income is one of the major sources of capital formation in the context of Nepal. It is directly related with the labour migration in a country which in return enhances foreign employment. Remittances have become a major contributing factor to increasing household income as well as country’s GDP. About 30 percent of Nepal’s GDP comes in the form of remittance money which is sent home by Nepalese working abroad and it helps to reduce country’s poverty rate. Poverty reduction took place in Nepal from 42 percent (1995/96) to 25.2 percent (2010/11). Nepal’s remittance recipients reached 31.5 percent GDP in 2015. The total amount of remittance in the country is 259 billion and among which 20 percent is internal sources, 11 percent from India and 69 percent from Gulf countries. Remittance received by the households is mainly used for daily consumption (79 percent) and remaining other purposes. Moreover, Nepal’s economic status mostly depends on remittance received which is therefore migration driven economy.

scholarly journals A PROPOSAL FOR AFFORDABLE WAQF HOUSING PROJECTS IN MALAYSIA: PUBLIC PERCEPTION OF HOUSE CHARACTERISTICS

2021 ◽  
Vol 19 (17) ◽  
Author(s):  
Nor Azizan Che Embi ◽  
Salina Kassim ◽  
Roslily Ramlee ◽  
Wan Rohaida Wan Husain
Keyword(s):  
Affordable Housing ◽  
Low Income ◽  
Structural Equation ◽  
Public Perception ◽  
Housing Prices ◽  
Housing Price ◽  
Income Group ◽  
Housing Affordability ◽  
High Income Group ◽  
Housing Projects

Housing affordability is important to ensure houses are affordable to everyone across all income categories, whether they are in the low-income, middle-income (M40), or high-income group. Building housing projects on waqf land will help increase the supply of affordable houses, especially targeted at the M40 group, while also addressing the shortage of affordable housing for the M40 cohort. This study analyses public perceptions of house characteristics and relate these factors to affordable housing prices. The independent variables are location, infrastructure, facilities, size, design and quality. By applying a quantitative research design, the study aims to understand the relationship between various demanded housing characteristics vis-a-vis the price of the house. A sample of 261 usable responses was analysed using the Structural Equation Modelling (SEM). The results show that house size is not statistically significant in influencing the housing price, while location, infrastructure and design of the house are positively significant factors. These findings are expected to provide important inputs to the relevant authorities on factors that are critical in influencing the prices of housing projects built on waqf land in Malaysia.

scholarly journals Housing Prices and the Skills Composition of Neighborhoods

2021 ◽  
Vol 4 ◽  
Author(s):  
Shahad Althobaiti ◽  
Saud Alghumayjan ◽  
Morgan R. Frank ◽  
Esteban Moro ◽  
Ahmad Alabdulkareem ◽  
...  
Keyword(s):  
San Francisco ◽  
Low Income ◽  
Cognitive Skills ◽  
Service Sector ◽  
Housing Prices ◽  
Housing Price ◽  
The United States ◽  
Skilled Workers ◽  
Cost Of Living ◽  
The Impact

In the United States (US), low-income workers are being pushed away from city centers where the cost of living is high. The effects of such changes on labor mobility and housing price have been explored in the literature. However, few studies have focused on the occupations and specific skills that identify the most susceptible workers. For example, it has become increasingly challenging to fill the service sector jobs in the San Francisco (SF) Bay Area because appropriately skilled workers cannot afford the growing cost of living within commuting distance. With this example in mind, how does a neighborhood's skill composition change as a result of higher housing prices? Are there certain skill sets that are being pushed to the geographical periphery of a city despite their essentialness to the city's economy? Our study focuses on the impact of housing prices with a granular view of skills compositions to answer the following question: Has the density of cognitive skill workers been increasing in a gentrified area? We hypothesize that, over time, low-skilled workers are pushed away from downtown or areas where high-skill establishments thrive. Our preliminary results show that high-level cognitive skills are getting closer to the city center indicating adaptation to the increase of median housing prices as opposed to low-level physical skills that got further away. We examined tracts that the literature indicates as gentrified areas and found a pattern in which there is a temporal increase in median housing prices and the number of business establishments coupled with an increase in the percentage of skilled cognitive workers.

The influence of land use regulation on the probability that low-income neighbourhoods will gentrify

Urban Studies ◽  
2020 ◽  
pp. 004209802094016
Author(s):  
Susane Leguizamon ◽  
David Christafore
Keyword(s):  
Land Use ◽  
Low Income ◽  
Housing Prices ◽  
Housing Price ◽  
Lower Probability ◽  
Land Use Regulation ◽  
Lower Income ◽  
Housing Projects ◽  
The Us ◽  
Price Growth

The divergence in housing price growth in the US in coastal cities relative to inland cities has been thought to occur, in large part, due to severe housing regulations and restrictions on development. Researchers have posited that this trend implies that these heavily regulated cities are experiencing higher incidences of gentrification. However, the gentrification of lower-income communities may be negatively influenced by restrictive regulations rather than positively, as is the case with overall housing price growth. This may occur if restrictions make it more difficult to improve housing structures and engage in new housing projects. We use data from over 12,000 census tracts to analyse the relationship between land use regulations and the probability an area will undergo gentrification in the years 2000 to 2010. By separating the influence of higher levels of regulation on overall housing price growth from the likelihood that a lower-income neighbourhood will gentrify, we find that regulation has opposing forces. While increased levels of regulation are associated with an almost 10% greater increase in overall housing prices, they are also associated with a three to four percentage-point lower probability that a lower-income tract will experience gentrification, contrary to previous conclusions.

scholarly journals Analysis of the Contribution of Intellectual Capital to Economic Growth Based on an Empirical Analysis of Prefecture-Level Cities in Guangxi

2021 ◽  
Vol 2021 ◽  
pp. 1-12
Author(s):  
Qun Zeng ◽  
ZhenHai Tan ◽  
Chunnian Liu
Keyword(s):  
Economic Development ◽  
Intellectual Capital ◽  
Economic Status ◽  
Regional Economic Development ◽  
Principal Component ◽  
Measurement Model ◽  
Equation Model ◽  
Regional Economic ◽  
Positive Effects ◽  
Structural Capital

The purpose of this paper is to explore the reasons for the differences in intellectual capital between regions and put forward reasonable suggestions for regional economic development through the use of an intellectual capital measurement model. Based on a sample of 14 cities in Guangxi in 2017, this work builds a set of indicator systems to evaluate intellectual capital contributions. First, the comprehensive intellectual capital score of each region is calculated, and the principal component analysis is used to analyze three elements. Second, a regression equation model between the regional intellectual capital and the regional economic status indicator—GDP—is established, and a descriptive statistical test, a correlation test, and a robustness test are carried out on the model. This work finds that the three major factors of regional intellectual capital have positive effects on the level of regional economic development, among which the contribution of regional structural capital to economic development is the largest, reaching more than 50%, followed by human capital, and, finally, relational capital. The unbalanced characteristics of intellectual capital between cities are quite prominent, and thus, the alleviation of the unbalanced development of cities has become a problem that must be urgently addressed. Structural capital has the highest impact on GDP of all types of capital, with government income from structural capital accounting for more than half of total incomes.

scholarly journals THE EFFECTS OF A SHOPPING MALL ON HOUSING PRICES: A CASE STUDY IN HANGZHOU

2018 ◽  
Vol 23 (1) ◽  
pp. 65-80 ◽  
Author(s):  
Ling Zhang ◽  
Jiantao Zhou ◽  
Eddie C. M. Hui ◽  
Haizhen Wen
Keyword(s):  
Housing Prices ◽  
Housing Price ◽  
Shopping Mall ◽  
Hedonic Price ◽  
Shopping Malls ◽  
Time Dimension ◽  
Positive Effects ◽  
The Impact ◽  
Positive Effect

There are few studies on the externalities of shopping malls affecting the housing market. This study aims to discuss two issues: (1) What is the intensity of the impact of a shopping mall? (2) When does the external influence of a shopping mall begin to reveal itself? The West Intime Shopping Mall in Hangzhou offers a unique situation to research the questions. By dividing the study area into nine blocks, using hedonic price theory, and the price gradient approach with housing price data from 2011 to 2015, we found that in the space dimension, the mall exerted a significantly positive effect on the housing prices of nearby blocks. With the increase in distance from the mall, the positive effect decreased. There were more significantly positive effects in blocks far away from the city center. In the time dimension, the effects of West Intime did not reveal themselves until the mall had started to operate and gradually matured over time, implying that the mall did not have the obvious expected impact on housing prices before the mall had begun operating.

Housing prices and the probability of marriage among the young: evidence from land reform in China

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mingzhi Hu ◽  
Lina Wu ◽  
Guocheng Xiang ◽  
Shihu Zhong
Keyword(s):  
Young Adults ◽  
Young People ◽  
Low Income ◽  
Land Reform ◽  
Housing Prices ◽  
Housing Price ◽  
Urban China ◽  
Negative Consequences ◽  
Nutrition Survey ◽  
Content Type

PurposeUsing data from the China Health and Nutrition Survey, this work examines the relationship between housing price and the probability of marriage among the young.Design/methodology/approachBy exploiting land reform as an exogenous change in housing price and employing a differences-in-differences framework, this study investigates the effects of housing price on the marriage probability of young people.FindingsThis work confirms that land reform decreased young people's likelihood of marriage. This finding is robust to a series of model specifications. The effects of land reform increased over time because of rising housing unaffordability from progressively inflating housing prices. Moreover, land reform had larger effects on renters and young adults aged below 30 than homeowners and young adults aged above 30.Social implicationsOverall, this study highlights the negative consequences of an overheated housing market on marriage in developing countries.Originality/valueHousing prices have increased dramatically in urban China after 2002 upon the implementation of the assignment system of the use right of all kinds of profit-oriented lands by means of public bidding, auction and quotation. High housing prices indicate serious housing unaffordability, especially for young people who typically have low income and wealth. Homeownership that comes with various benefits can theoretically increase the likelihood of marriage, particularly in China where a house is often regarded as a prerequisite for marriage.

Labor Demand Shocks and Housing Prices Across the United States: Does One Size Fit All?

2019 ◽  
Vol 33 (3) ◽  
pp. 212-219 ◽  
Author(s):  
Michael J. Osei ◽  
John V. Winters
Keyword(s):  
Housing Prices ◽  
Labor Demand ◽  
The United States ◽  
Demand Shocks ◽  
Metropolitan Statistical Areas ◽  
Positive Effects ◽  
Long Run ◽  
Time Periods ◽  
Total Labor ◽  
Using Data

This study examines whether effects of labor demand shocks on housing prices vary across time and space. Using data on 321 U.S. metropolitan statistical areas (MSAs), the authors estimate the medium- and long-run effects of increases in MSA-level employment and total labor income on housing prices. Instrumental variable estimates for different time periods, and also for coastal, noncoastal, large, and small metropolitan statistical areas, are obtained using the shift-share instrument. Results suggest that labor demand shocks have positive effects on housing prices; however, these effects appear to vary across time periods and across different types of MSAs.

Test the Effectiveness of the Open Spaces Scenario in Promoting Socio-economic Development

2020 ◽  
Author(s):  
Si Chen ◽  
Zipan Cai ◽  
Brian Deal
Keyword(s):  
Machine Learning ◽  
Economic Development ◽  
Open Space ◽  
Social Factor ◽  
Housing Price ◽  
Machine Learning Algorithms ◽  
Data Availability ◽  
Open Spaces ◽  
Positive Effects ◽  
Socio Economic Development

<p>The preservation of open spaces is treated as an important policy in recent years as urbanization level is increasing higher in the world (Geoghegan, 2002). There are multiple positive effects associated with open spaces, including recreation, aesthetic and environment values (Geoghegan, 2002). The positive effects of open space as a nature-based solution on urban social, economic and environmental factors have been explored by a number of previous papers, such as housing price (Lutzenhiser & Netusil, 2001; Bolitzer & Netusil, 2000), spatial pattern (Lewis et al., 2009; Irwin & Bockstael, 2004), human health (Groenewegen et al., 2006; Irvine et al., 2013) and social safety (Groenewegen et al., 2006; Fischer et al., 2004). However, relatively less papers have predicted the open spaces’ influences on socio-economic development. This paper will firstly verify the open space influences on economic factor (housing sale prices) and social factor (sense of safety, residential agglomeration) using a linear regression model. We consider the housing attributes, urban form attributes (eg. population density, block size, road density), driving and walking accessibility to different types of public open spaces, and accessibility to other amenities (eg. hospitals and schools) as influential features. Then, we test several machine learning algorithms in predicting the housing price and sense of safety change based on future open space planning scenarios, and choose the most suitable machine learning algorithm. City of Chicago, Illinois, US is chosen to be study area since data availability, sufficient open space types and long-term open space preservation strategies. This study can quantify the values of the open spaces in influencing socio-economic developments and provide a way to test the open space scenarios. It has potential to work as a tool for local planners to make better nature-based solutions in open space designs and plans.</p>

Housing Inflation: Policy Guidelines from Shariah Perspective

2019 ◽  
Vol 16 (1) ◽  
pp. 70-81
Author(s):  
Azrul Azlan Iskandar Mirza ◽  
Asmaddy Haris ◽  
Ainulashikin Marzuki ◽  
Ummi Salwa Ahmad Bustamam ◽  
Hamdi Hakiem Mudasir ◽  
...  
Keyword(s):  
Content Analysis ◽  
Housing Prices ◽  
Construction Materials ◽  
Housing Price ◽  
Developed Countries ◽  
Control Element ◽  
Recent Issue ◽  
Analysis Methodology ◽  
The Government ◽  
Developing And Developed Countries

The soaring housing prices in Malaysia is not a recent issue. It is a global phenomenon especially in developing and developed countries, driven by factors including land price, location, construction materials cost, demand, and speculation. This issue demands immediate attention as it affects the younger generation, most of whom could not afford to buy their own house. The government has taken many initiatives and introduced regulations to ensure that housing prices are within the affordable range. This article aims to introduce a housing price control element from the Shariah perspective, as an alternative solution for all parties involved in this issue. It adopts content analysis methodology on policy from Shariah approved sources.

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