Search

This paper analyses the relationship between community attributes and the subway home-price capitalization effect, asking whether the magnitude of the subway proximity premium is affected by neighbourhood economic status and location. Using longitudinal data from Beijing, the paper estimates that decreasing a community's distance to a subway station by 10 per cent increases the housing price per square metre by 0.2 per cent ~ 0.9 per cent. The paper also shows that, subway capitalization effect is around 0.1 per cent ~ 0.2 per cent lower for communities that have higher quality and charge a 1 Yuan higher property management fee. Moreover, the analysis also reveals that the subway capitalization will decrease by around 0.08 per cent as a community's distance to the central business district (CBD) increases by 1 km. [ABSTRACT FROM AUTHOR]

This study investigates spatial dependence and mechanisms of regional development in Greater Beijing, China by employing spatial statistical techniques. We have detected positive, strengthening global spatial autocorrelation from 1978 to 2001, and found such strengthening is the result of newly formed/extended clusters in the area. The local analysis recognizes local regimes of two-tier urban-rural spatial structure at the beginning of the reform period. While the urban-rural divide was lessening due to the reform, a north-south divide has emerged because of local natural conditions and development trajectories. Regarding mechanisms of regional development, ordinary least squares analysis is constrained by the existence of significant spatial autocorrelation among spatial units. Analytical results reveal that an error spatial regression model is a more appropriate alternative due to possible mismatch between boundaries of the underlying spatial process and the spatial units where data are organised. In 1995 and 2001, the signs of all the regression coefficients remained the same for both OLS and spatial models. However, their magnitude and significance change. Specifically, foreign direct investment and fixed-asset investment became less influential in the spatial model, while local government spending emerged as more influential. Este estudio investiga la dependencia especial y los mecanismos de desarrollo regional en el Gran Beijing, China, empleando técnicas estadísticas espaciales. Hemos detectado una autocorrelación espacial global en aumento y positiva desde 1978 al 2001, y hallado que dicho aumento es el resultado de clusters formados/ampliados recientemente en el área. El análisis local reconoce regimenes locales de estructura espacial urbana-rural de dos niveles al inicio del periodo de reforma. Mientras que la separación urbana-rural fue disminuyendo con la reforma, ha aparecido una separación norte-sur por condiciones naturales locales y trayectorias de desarrollo. Respecto de los mecanismos de desarrollo regional, el análisis de mínimos cuadrados ordinario (OLS) se ve restringido por la existencia de una autocorrelación espacial significativa entre unidades espaciales. Los resultados de análisis revelan que un modelo de regresión del error espacial es una alternativa más apropiada debido a una posible disparidad entre los límites del proceso espacial subyacente y las unidades espaciales donde están organizados los datos. En 1995 y en 2001, los signos de todos los coeficientes de regresión permanecieron iguales para OLS y modelos espaciales. Sin embargo, su magnitud y significancia cambian. En particular, la inversión extranjera directa y la inversión en activos fijos pasaron a ser menos influyentes en el modelo espacial, mientras que el gasto del gobierno local apareció más influyente. [ABSTRACT FROM AUTHOR]