6533b853fe1ef96bd12acc4e
RESEARCH PRODUCT
Spatial effects of urban public policies on housing values
Catherine Baumontsubject
JEL: R - Urban Rural Regional Real Estate and Transportation Economics/R.R2 - Household Analysis/R.R2.R21 - Housing Demandurban policiesJEL : C - Mathematical and Quantitative Methods/C.C4 - Econometric and Statistical Methods: Special TopicsPublic housingGeography Planning and DevelopmentPublic policyUrban regenerationEnvironmental Science (miscellaneous)Urban areaneighbourhood effectsJEL : R - Urban Rural Regional Real Estate and Transportation Economics/R.R2 - Household Analysis/R.R2.R28 - Government PolicyDeprived districts[ SHS.ECO ] Humanities and Social Sciences/Economies and financesEconomic geography[SHS.ECO] Humanities and Social Sciences/Economics and FinanceNeighbourhood (mathematics)JEL : R - Urban Rural Regional Real Estate and Transportation Economics/R.R2 - Household Analysis/R.R2.R21 - Housing Demandgeography.geographical_feature_category[SHS.ECO]Humanities and Social Sciences/Economics and FinanceGeographyspatial econometricsEconomyPrice formationhedonic modelJEL: C - Mathematical and Quantitative Methods/C.C4 - Econometric and Statistical Methods: Special TopicsJEL: R - Urban Rural Regional Real Estate and Transportation Economics/R.R2 - Household Analysis/R.R2.R28 - Government PolicySocial capitalSocial statusdescription
International audience; Problems of spatial segregation have often stressed on the social status and social capital of a neighbourhood as main driving forces behind housing price formation. In this paper, it is assumed that spatial effects are additional variables worth considering since the impact of urban policies such as social housing policies and urban regeneration policies may permeate outside the areas where they are implemented. Our case study is of the urban area of Dijon (France), where these two types of urban policies have been implemented in the last three decades. Spatial effects are introduced in the hedonic model and a spatial error model is estimated, revealing a positive and significant global spatial effect combined with the usual influence of accessibility to the CBD.We also show the negative influence of location in social housing districts and the spatial diffusion effect they exert on neighbouring districts.
| year | journal | country | edition | language |
|---|---|---|---|---|
| 2009-06-01 |