Barriers to urban spatial development: Evidence from the 2010–2011 Christchurch earthquakes

Fu, Y; Shi, S

Barriers to urban spatial development: Evidence from the 2010–2011 Christchurch earthquakes

Fu, Y Shi, S

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Publisher:: Wiley
Publication Type:: Journal Article
Citation:: Journal of Regional Science, 2021
Issue Date:: 2021-01-01

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Field	Value	Language
dc.contributor.author	Fu, Y
dc.contributor.author	Shi, S https://orcid.org/0000-0003-4188-5151
dc.date.accessioned	2021-11-10T07:14:08Z
dc.date.available	2021-11-10T07:14:08Z
dc.date.issued	2021-01-01
dc.identifier.citation	Journal of Regional Science, 2021
dc.identifier.issn	0022-4146
dc.identifier.issn	1467-9787
dc.identifier.uri	http://hdl.handle.net/10453/151479
dc.description.abstract	Rational urban spatial development with durable structural capital entails discontinuous central densification. Such densification can be held back by interdependent redevelopment incentives among adjacent landowners—a market failure that distorts spatial development. We investigate such distortion in Christchurch, New Zealand, by studying land-value change across neighborhoods in the city before and after the 2010-2011 earthquakes. We show that neighborhood-wide loss in structural capital due to seismic hazard exposure raised land value in central neighborhoods but reduced it in non-central ones. These divergent land-value changes reflect the mitigation of spatial-development distortion because of reduced barriers to neighborhood redevelopment.
dc.language	en
dc.publisher	Wiley
dc.relation.ispartof	Journal of Regional Science
dc.relation.isbasedon	10.1111/jors.12562
dc.rights	info:eu-repo/semantics/closedAccess
dc.subject	1205 Urban and Regional Planning, 1402 Applied Economics, 1604 Human Geography
dc.subject.classification	Economics
dc.title	Barriers to urban spatial development: Evidence from the 2010–2011 Christchurch earthquakes
dc.type	Journal Article
utslib.for	1205 Urban and Regional Planning
utslib.for	1402 Applied Economics
utslib.for	1604 Human Geography
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Design, Architecture and Building
pubs.organisational-group	/University of Technology Sydney/Faculty of Design, Architecture and Building/School of Built Environment
utslib.copyright.status	closed_access	*
dc.date.updated	2021-11-10T07:14:05Z
pubs.publication-status	Published

Abstract:

Rational urban spatial development with durable structural capital entails discontinuous central densification. Such densification can be held back by interdependent redevelopment incentives among adjacent landowners—a market failure that distorts spatial development. We investigate such distortion in Christchurch, New Zealand, by studying land-value change across neighborhoods in the city before and after the 2010-2011 earthquakes. We show that neighborhood-wide loss in structural capital due to seismic hazard exposure raised land value in central neighborhoods but reduced it in non-central ones. These divergent land-value changes reflect the mitigation of spatial-development distortion because of reduced barriers to neighborhood redevelopment.

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http://hdl.handle.net/10453/151479